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Alok, Sarah and Aditya… (Class 12 Accountancy 2026, Q8)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 1 mark · MCQ

CBSE Class 12 Accountancy 2026: question 8

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section A, question 8, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q8 · 1 mark · MCQAccounting for Partnership: Basic Concepts

Alok, Sarah and Aditya were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. On 1st January, 2025 Alok advanced a loan of ₹ 2,00,000 to the firm. In the absence of a partnership agreement, the amount of interest on loan due to Alok on 31st March, 2025 will be :

  1. (A)₹ 20,000
  2. (B)₹ 12,000
  3. (C)₹ 3,000
  4. (D)₹ 5,000

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

What rate does the Partnership Act give on partners' loans?

Hint 2

Count only the months the loan was outstanding.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. Without an agreement, Section 13(d) of the Indian Partnership Act allows 6% p.a. interest on a partner's loan.

  2. From 1st January to 31st March is 3 months: 2,00,000 × 6% × 3/12 = ₹ 3,000. Option (C).

    1 mark

Answer: (C) ₹ 3,000

Where the marks are

  • 6% p.a. for 3 months (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Partnership: Basic Concepts, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/5/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.