Question on: WAEC Accounting - 2011
Okoro and Osula are in partnership sharing profits and losses in the ratio 3 : 2 respectively. Their respective capital were ₦7,000 and ₦5,000. Interest on capital was 5% and interest on drawings was 10%. The net profit was ₦30,000.Using the following information, The total interest on capital is
A
₦4,000
B
2,740
C
₦2,000
D
₦750
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Correct Option: B
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