Keme and Kemi are in partnership sharing profit and losses in the ratio 3:2.
Capital - Keme.............N20,000
........ - Kemi.............N10,000
Drawings - Keme.............N2,000
........ - Kemi.............N3,000
Profit......................N6,000
Interest on capital.........5%
Interest on drawings........10%
The interest on Kemi's capital is?
N1,000
N2,000
N500
N3,000
Correct answer is C
No explanation has been provided for this answer.