Waec Model Questions Vol1 2023 Commerce Question 22
Practice objective / multiple choice question 22 from the 2023 Waec Model Questions Vol1 Commerce examination.
Three partners A, B and C start a business with capital contributions of ₦120,000, ₦180,000 and ₦200,000 respectively. They agree that profit will be shared as follows: (i) a fixed salary of ₦30,000 each to A and B (C receives no salary), (ii) interest on capital at 5% per annum paid to each partner, and (iii) the remaining profit divided in the ratio of their capital contributions. If the net profit for the year after expenses is ₦300,000, how much does each partner receive in total?
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 22. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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