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Okoro and Osula are in partnership sharing profits and losses in the ratio 3 : 2 ...

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
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  • A ₦4,000
  • B 2,740
  • C ₦2,000
  • D ₦750
Correct Answer: Option B
Explanation:

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