WAEC Financial Accounting 1992 Question 39

Chukwu's capital at 1/1/89 and 31/12/89 were ₦30,000 and ₦50,000 respectively. During the year he introduced additional capital of ₦10,500 and withdrew ₦5,300 for private use. What is his profit for 1989?

1. A.₦30,500
2. B.₦25,300
3. C.₦20,000
4. D.₦15,800
5. E.₦14,800.