I suggest wait until Half yearly exams, see which one you do better in or which one you studied better for...it's too early to judge how well you'll do based on term 1 results imo.
Drop which ever subject you hate the most. If you can't decide at the current point in time, then maybe wait to half yearly as everyone else says and then you can take into account results too. From my own experiences i dropped a subject at start of yr 12 which i was performing alright in, yet really hated and it turned out fine for me.