Gce Model Questions Vol1 2019 Commerce Question 6

Practice objective / multiple choice question 6 from the 2019 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 6 GCE_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

A partnership of three partners A, B and C invests capital for different periods. Partner A contributes ₦120,000 for 6 months, B contributes ₦80,000 for 9 months and C contributes ₦100,000 for 12 months. The profit is to be shared in proportion to the product of capital and time, but A also receives a fixed monthly salary of \(5{,}000\) ₦ for managerial work. If the total profit before salary is \(96{,}000\) ₦, determine the amount each partner receives.

Answer Options

Correct Answer A. A: ₦69,818.18, B: ₦9,818.18, C: ₦16,363.64
B. A: ₦68,181.82, B: ₦9,090.91, C: ₦18,727.27
C. A: ₦65,000, B: ₦12,000, C: ₦19,000
D. A: ₦70,000, B: ₦10,000, C: ₦16,000
Correct Answer
A
Correct Option:
A: ₦69,818.18, B: ₦9,818.18, C: ₦16,363.64

About This Question

This is Gce Model Questions Vol1 2019 Commerce Question 6. It is one of the objective questions from the 2019 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

View More Gce Model Questions Vol1 2019 Commerce Questions More Gce Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support