Gce Model Questions Vol1 2022 Commerce Question 39

Practice objective / multiple choice question 39 from the 2022 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2022 Commerce Objective / Multiple Choice Medium Difficulty
Question 39 GCE_MODEL_QUESTIONS_VOL1 • 2022 • COMMERCE • objective

Three partners start a business. Partner A invests \(£10{,}000\) for 6 months and receives a salary of \(£1{,}200\). Partner B invests \(£8{,}000\) for 12 months. Partner C invests \(£12{,}000\) for 9 months. After all expenses, the business makes a profit of \(£9{,}600\). The salary is paid first, and the remaining profit is shared in the ratio of each partner's capital multiplied by the time his capital was invested. Determine the total amount each partner receives (salary plus profit share), giving answers to two decimal places.

Answer Options

A. A: £3,200.00, B: £3,000.00, C: £3,400.00
B. A: £3,090.91, B: £3,045.45, C: £3,463.64
Correct Answer C. A: £3,109.09, B: £3,054.55, C: £3,436.36
D. A: £3,150.00, B: £3,050.00, C: £3,400.00
Correct Answer
C
Correct Option:
A: £3,109.09, B: £3,054.55, C: £3,436.36

About This Question

This is Gce Model Questions Vol1 2022 Commerce Question 39. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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