In the absence of an agreement, Interest on loan advanced by the partner to the firm isallowed at the rate of:

In the absence of an agreement, Interest on loan advanced by the partn

1.	In the absence of an agreement, Interest on loan advanced by the partner to the firm isallowed at the rate of:
A.	6%
B.	5%
C.	12%
D.	9%
Answer» B. 5%