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X and Y are equal partners. They had advanced a loan of ₹40,000, contributed equally to the firm on 1st August, 2019. The partnership deed is silent regarding the payment of interest on loan. What amount of interest on loan is payable to X, if the firm closes its books of account on 31st March every year?

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X and Y are equal partners. They had advanced a loan of ₹40,000, contributed equally to the firm on 1st August, 2019. The partnership deed is silent regarding the payment of interest on loan. What amount of interest on loan is payable to X, if the firm closes its books of account on 31st March every year?






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