What is the rate of interest allowed for partners' capital, if It is absence in their agreement

a. None of the options Mentioned

b. 10% per year

c. 6% per year

d. No interest

Ameer and Asif were two partners sharing profits and losses equally. Ameer advanced a loan of RO 20,000 on 1st April 2019 to the firm and Ameer Withdrew RO 5000 from the firm for his personal use on 1st January 2019. What will be the interest received by Ameer for the loan given and the interest paid by Asif for drawing for the year ended 31st December 2019.

a. RO 900 and RO 300

b. RO 1,200 and RO 0

c. RO 900 and RO 0

d. RO 1,200 and RO 300

Please Explain how did you get the answer