General query on accounts

A New Partnership firm has been formed by the Name Aaditya Engineering on 01.04.2016 with Two Partener A the Husband and B the Wife with 90% share of A and 10% share of B. The capital Introduced in Business on 01.04.2016 is Rs. 1,00,000/-. When the Interest on Capital Entry will be passed and at what rate of iNTEREST. and what will be the Journal entry for Interest on Capital. Furthermore Partnership Firm has got loan of about 5,00,000/- from A'S Personal Account from 01.04.2016 till 31.05.2016. When we will pass journal entry for Interest on Loan and at what rate .What will be the journal entry for Interest on Loan Account. Kindly clarify this issue immediately as I have recently joined this New Partnership firm as Jr. Account Assistant.