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Question 08 Chapter 2 of +2 Part-1 - USHA Publication 12 Class Part - 1

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Question 08 Chapter 2 of +2-Part-1

8. (Interest on Loan) Ranjit and Surjit share profits in 2:1 ratio. Ranjit gave Loan Rs.30,000 to the firm on 1st April 2018 and Surjit gave loan Rs.50,000 on 1st October 2018. Find out the interest on the loan for the year ended 31st March 2019, assuming there is no agreement.