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JAMB Accounting 2015 Objective — Question 39

Question 39 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2015 Objective paper, with the correct answer and a full explanation.

Using the same partnership information (capital ₦50,000 and ₦30,000, interest on capital at 6% p.a.), determine the total interest on capital due to the partners.

A. ₦1,200
B. ₦1,800
C. ₦3,000
D. ₦4,800Correct

Explanation

Total interest on capital = 6% × (50,000+30,000) = ₦4,800.

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