CA CPT Dec 2017 Question Paper Fundamentals of Accounting for online practice

Question : 47 of 60

Marks: +1, -0

Jain and Deepak are partners in a firm with no partnership agreement. The profit forthe year was ₹ 14,200. Deepak claimed interest @12% p.a. on the loan of ₹ 70,000given to the firm. Calculate the share of Jain and Deepak in the profit of the firm. :