Use the following information to answer the question given.

\(\begin{array}{c|c} Capital & Le\\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings & \\ Aye & 8,000 \\ Bee & 2,000 \\ \text{Profit for the year} & 2,000\\ \text{Interest on capital-6%} & \\ \text{Interest on drawings - 10%} & \end{array}\).

Profit sharing is in the ratio of capital. Aye;s share of profit is

  • A Le 6,000
  • B Le 4,800
  • C Le 4000
  • D Le 3,200

The correct answer is D. Le 3,200

No explanation given
Previous question Next question