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Question
As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is ___________.
Options
8% per annum
12% per annum
5% per annum
6% per annum
MCQ
Fill in the Blanks
Solution
As per the Indian Partnership Act, 1932, the rate of interest allowed on loans advanced by partners is 6% per annum.
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Application of the Provisions of the Indian Partnership Act, 1932 in the Absence of Partnership Deed
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