Account 2004 JAMB Past Questions - Question 40: Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provide 3% interest on capital and salaries of N1,500 and N1,000 respectively for the partners. The profits and losses are to be shared in the ratio 3:2. Miscellaneous expenses of N2,500 were incurred with gross profit of N6,500 during the financial year What is Kunle's share of the profit?

Jumoke and Kunle have an original investment of N25,000 and N15,000 respectively in a partnership. The articles of partnership provide 3% interest on capital and salaries of N1,500 and N1,000 respectively for the partners. The profits and losses are to be shared in the ratio 3:2. Miscellaneous expenses of N2,500 were incurred with gross profit of N6,500 during the financial year
What is Kunle's share of the profit?