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NECO Accounting 2007 Objective — Question 8

Question 8 of 60 from the National Examinations Council (NECO) Accounting 2007 Objective paper, with the correct answer and a full explanation.

Using the same data, the interest on Yusuf's capital is

A. N155,000
B. N145,000
C. N102,000

Explanation

Interest on Yusuf's capital = N1,000,000 x 10% = N100,000.

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