Adamu, Babaji and Chukwu are in a partnership and they share profit and losses on...
FINANCIAL
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Adamu, Babaji and Chukwu are in a partnership and they share profit and losses on ratio 3:2:1. Their respective capitals are ?20,000, ?15,000, ?5,000 on which they are entitled to interest at 5% per annum. The profit for the year before charging interest on capital amounts to ?5,500. Calculate the profit for Adamu
- A) N583
- B) N1,000
- C) N1,167
- D) N1,750
Correct Answer: D) N1,750
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