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X and Y are partners in the ratio of 3 :...

X and Y are partners in the ratio of 3 : 2. Their capitals are Rs.2,00,000 and Rs.1,00,000 respectively. Interest on capitals is allowed @8% p.a. Firm incurred a loss of Rs.60,000 for the year ended 31st March 2019. Interest on Capital will be :

A

X Rs.16,000, Y Rs.8,000

B

X Rs.8,000, Y Rs.4,000

C

X Rs.14,400, Y Rs.9,600

D

No Interest will be allowed

Text Solution

Verified by Experts

The correct Answer is:
D
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