Multiple choice Interest on advances by a partner to his firm may be payable @ 6% per annum @ 8% per annum @ 8.5% per annum at any rate Reveal answer Fill a bubble to check yourself A Correct answer Explanation Under Section 13(d) of the Indian Partnership Act, 1932, interest on advances by a partner to the firm is payable at 6% per annum unless there's a specific agreement to the contrary. This is the default statutory rate.