Question

In the absence of partnership deed, a partner is entitled to an interest on the amount of additional capital advanced by him to the firm at a rate of:

(A) entitled for 6% p.a. on their additional capital, only when there are profits. 

(B) entitled for 10% p.a. on their additional capital 

(C) entitled for 12% p.a. on their additional capital 

(D) not entitled for any interest on their additional capitals.

Answer 1

Correct option is (D) not entitled for any interest on their additional capitals.