At what rate is interest payable on the amount remaining unpaid to the executor of deceased partner, in absence of any agreement among partners, when (s)he opts for interest and not share of profit

In the absence of a partnership deed, the allowable rate of interest on partner's loan account will be :

Two partners invest X 125000 and X 85000, respectively in a business and agree that 60% of the profit should be divided equally between them and the remaining profit is to be treated as interest on capital. If one partner gets X 600 more than the other, find the total profit made in the business.

Following is the Balance Sheet of Prateek, Rockey and Kushal as on March 31, 2017. Rockey died on June 30, 2017. Under the terms of the partnership deed, the executors of a deceased partner were entitled to: a) Amount standing to the credit of the Partner’s Capital account. b) Interest on capital at 5% per annum. c) Share of goodwill on the basis of twice the average of the past three years’ profit and d) Share of profit from the closing date of the last financial year to the date of death on the basis of last year’s profit. Profits for the year ending on March 31, 2015, March 31, 2016 and March 31, 2017 were Rs. 12,000, Rs. 16,000 and Rs. 14,000 respectively. Profits were shared in the ratio of capitals. Pass the necessary journal entries and draw up Rockey’s capital account to be rendered to his executor.