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WASSCE
Okoro and Osula are in partnership sharing profits and losses in the ratio 3:2 respectively. Their respective capital were ₦40,000 and ₦15,000 and their drawings were ₦7,000 and ₦5,000. Interest on capital was 5% and interest on drawings was 10%. The net profit was ₦30,000.
Osula's interest on drawings is
A.
₦2,000
B.
₦750
C.
₦700
D.
₦500
Answer: D
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