Gce Model Questions Vol1 2019 Commerce Question 31

Practice objective / multiple choice question 31 from the 2019 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 31 GCE_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

Three partners A, B and C run a business. Partner A initially invests \(\text{₦}120{,}000\) but withdraws \(\text{₦}30{,}000\) after 8 months. Partner B invests \(\text{₦}80{,}000\) for the whole year. Partner C invests \(\text{₦}100{,}000\) but leaves the business after 9 months. At the end of the year the total profit is \(\text{₦}96{,}000\). Assuming profit is shared in proportion to the amount of capital actually employed (capital \(\times\) time in months), calculate the profit share of each partner.

Answer Options

Correct Answer A. A: ₦39,849; B: ₦28,981; C: ₦27,170 (rounded to the nearest naira)
B. A: ₦40,000; B: ₦29,000; C: ₦27,000 (rounded to the nearest naira)
C. A: ₦38,500; B: ₦30,200; C: ₦27,300 (rounded to the nearest naira)
D. A: ₦39,000; B: ₦29,500; C: ₦27,500 (rounded to the nearest naira)
Correct Answer
A
Correct Option:
A: ₦39,849; B: ₦28,981; C: ₦27,170 (rounded to the nearest naira)

About This Question

This is Gce Model Questions Vol1 2019 Commerce Question 31. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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