ACCOUNTING

JAMB 2000 - Question 39

Account 2000 JAMB Past Questions - Question 39: Rakya and Joy are in partnership and agreed that 5% interest per annum is to be charged on drawings. The drawing made by both partners in one year were: Rakiya, 200 on March 31 and 300 on September 30, Joy, 100 on April 1 and 240 on July 1. The interest on joy's drawing is

Choose the most appropriate option for the gap .
Rakya and Joy are in partnership and agreed that 5% interest per annum is to be charged on drawings. The drawing made by both partners in one year were: Rakiya, 200 on March 31 and 300 on September 30, Joy, 100 on April 1 and 240 on July 1.
The interest on joy's drawing is
A:
B:
C:
D:
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Correct Answer

D

Explanation

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