Gce Model Questions Vol1 2024 Commerce Question 28
Practice objective / multiple choice question 28 from the 2024 Gce Model Questions Vol1 Commerce examination.
Partners A, B and C invest in a business as follows: A invests \(\text{₦}50{,}000\) for 6 months, B invests \(\text{₦}30{,}000\) for 9 months and C invests \(\text{₦}20{,}000\) for 12 months. A profit of \(\text{₦}84{,}000\) is to be shared in proportion to the product of capital and time. After the profit is divided, A withdraws 10 % of his share for personal use and reinvests the remainder at 5 % per annum for one year. How much money will A have after the interest is added (including the amount he withdrew)?
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About This Question
This is Gce Model Questions Vol1 2024 Commerce Question 28. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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