# Question 11 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

Q-11 - CH-2 - Usha +2 Book 2018 - Solution

Question 11 Chapter 2 of +2-Part-1

11. (Interest on Loan) As per the information provided by Dara and Gala, partners in a firm in Jammu, they do not have an agreement on the sharing of profits. Dara and Gala have advanced loan Rs 90,000 in 2:1 ratio on 1st April 2018 @ 12% p.a. However, on 1st January 2019, Dara further gave Rs.50,000 to the firm as loan.
You are required to calculate interest on the loan for the year.

### The solution of Question 11 Chapter 2 of +2 Part-1: –

Day - 28 | Questions 1 to 12 | Illustrations 2 - 4 | Partnership Chapter 2 | PSEB Class 12 Accounts

Interest on Loan:

Dara Loan = Rs.90,000 x 2/3 = Rs.60,000

 Interest on Loan (one year) = Rs.60,000 x 12/100 = 7,200 Interest on Loan Rs.50,000 for 3 months = Rs.50,000 x 12/100 x 3/12 = 1,500 Total Interest on Dara’s Loan = 8,700

Gala Loan = Rs.90,000 x 1/3 = Rs.30,000
Interest on Loan (one year) = Rs.30,000 x 12/100 = Rs.3,600

Comment if you have any questions.

End of Solution

## Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 2 – Partnership Accounts – I (Introduction) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

### Question 62 Chapter 2 of +2 Part-1 – USHA Publication 12 Class Part – 1

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## Chapter-Wise Solution of Usha Publication Accountancy – Part 1 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 1 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 1 – Accounting Not-for-Profit Organisations (Deleted from the Syllabus)

Chapter No. 2 – Partnership Accounts – I (Introduction)

Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)

Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)

Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)

Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)

Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)

## Check out Part 2 of both books.

In Class 12th the accountancy has 2 books i.e. Part 1 and Part 2. The Books related to the Part 1 are shown above. but If you want to know more about Part 2, you can check it out from the following links. We have provided the links to both books i.e. Accountancy Part 2 by Usha Publication and Advanced Accountancy Part 2 by Unimax Publication.

1. Accountancy – Part 2 Class 12 – Session 2024-25 By Usha Publication