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As per Section 37 of the Indian Partnership Act, 1932, the executors would be entitled at their choice to the interest calculated from the date of death till the date of payment on the final amount due to the dead partner at …… percentage per annum.
  • a)
    7
  • b)
    4
  • c)
    6
  • d)
    12
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
As per Section 37 of the Indian Partnership Act, 1932, the executors w...

The question asks us to determine the percentage per annum for calculating the interest on the final amount due to the dead partner, as per Section 37 of the Indian Partnership Act, 1932.

Given:

Section 37 of the Indian Partnership Act, 1932.

To find:

The percentage per annum for calculating the interest on the final amount due to the dead partner.

Explanation:

Section 37 of the Indian Partnership Act, 1932 states that the executors will be entitled to the interest calculated from the date of death till the date of payment on the final amount due to the dead partner.

According to the Act, the interest rate is 6% per annum.

Answer: C. 6%
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