Gce Model Questions Vol1 2023 Commerce Question 34
Practice objective / multiple choice question 34 from the 2023 Gce Model Questions Vol1 Commerce examination.
Three partners A, B and C form a partnership. They agree that profits will be shared in proportion to their capital contributions, after each partner receives interest on capital at \(8\%\) per annum on the amount they have invested. At the start of the year, A invests \(200{,}000\) naira, B invests \(150{,}000\) naira and C invests \(250{,}000\) naira. At the end of the year, the partnership records a net profit of \(180{,}000\) naira after all expenses (excluding interest). Determine the amount each partner receives in total (interest plus profit share). Express your answer as three numbers in naira for A, B and C respectively.
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 34. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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