Nandini, Shreya and Ujjwal are partners in a firm. At the time of the division of profit for the year, there was a dispute between the partners. Profit before interest on partner’s capital was Rs. 6,000 and Shreya determined interest @24% Per Annum on her loan of Rs. 80,000. There was no agreement on this point. Calculate the amount payable to Nandini, Shreya and Ujjwal respectively.

A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations.