Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

If the partnership deed specifies an interest rate on a partner's loan that is higher than six percent, which rate will apply?

Answer and explanation

Correct answer: The rate stated in the deed will apply

Under partnership practice, the rate specified in the deed governs interest on partner loans. The six percent rule is a default used only when no rate is agreed in the deed or contract. Therefore, if the deed expressly gives a higher rate, that deed rate applies. Option B is a common misconception — 6% applies only when the deed is silent. Exam tip: mark “6%” as the default only when the question states no agreed rate or deed is silent on interest.

Related tags

Partnership AccountsPartnership DeedPartner Loan InterestAccountancy Class 12Partnership Accounts Basic ConceptsAccountancyClass 12 Mcq

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.