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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 earned a profit of Rs.15,000 for the year ended 31st March 2019. As per partnership agreement, interest on capital is treated a charge on profits. Interest on Capital will be :

A

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

B

X Rs.9,000, Y Rs.6,000

C

X Rs.10,000, Y Rs.5,000

D

No Interest will be allowed

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