Gce Model Questions Vol1 2020 Commerce Question 22

Practice objective / multiple choice question 22 from the 2020 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2020 Commerce Objective / Multiple Choice Medium Difficulty
Question 22 GCE_MODEL_QUESTIONS_VOL1 • 2020 • COMMERCE • objective

Three partners A, B and C invest in a business. A invests ₦50,000 for 6 months, B invests ₦30,000 for 9 months and C invests ₦20,000 for 12 months. The partnership earns a total profit of ₦48,000. Before sharing profit, each partner receives interest on his capital at 5 % per annum for the period his capital was invested. How much total amount (interest + profit share) does each partner receive?

Answer Options

A. A: ₦17,600.00; B: ₦16,200.00; C: ₦14,200.00
B. A: ₦18,250.00; B: ₦15,750.00; C: ₦13,500.00
C. A: ₦17,900.00; B: ₦15,900.00; C: ₦14,300.00
Correct Answer D. A: ₦17,793.75; B: ₦16,000.00; C: ₦14,206.25
Correct Answer
D
Correct Option:
A: ₦17,793.75; B: ₦16,000.00; C: ₦14,206.25

About This Question

This is Gce Model Questions Vol1 2020 Commerce Question 22. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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