Search SchoolNGR

Saturday, 04 April 2026
Register . Login

Use the following information to answer the given question. John and Johnson are in ...

Use the following information to answer the given question.
John and Johnson are in partnership, sharing profit and losses in the ratio 3 : 2. Other information are as follows:
\(\begin{array}{c|c} \text{Capital} & \text{ - John} & N20,000 \\ & \text{ - Johnson} & N10,000 \\ Drawings & \text{ - John} & 2,000 \\ & \text{ - Johnson} & 3,000 \\ \text{Interest on capital} & & \text{5%} \\ \text{Interest on drawings} & & \text{10%} \\ Profit & & N6,000\end{array}\)
What is John's share of the profit?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A N5,000
  • B N3,600
  • C N3,000
  • D N2,400
  • E N2000
Correct Answer: Option C
Explanation:

Share question on: