Use the following information to answer the given questio...
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:
Capital - JohnN20,000 - JohnsonN10,000Drawings - John2,000 - Johnson3,000Interest on capital5%Interest on drawings10%ProfitN6,000
The interest on Johnson's capital is
N3,000
N2,000
N1,500
N1,000
N500
Correct answer is E
No explanation has been provided for this answer.
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