Gce Model Questions Vol1 2025 Commerce Question 44

Practice objective / multiple choice question 44 from the 2025 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2025 Commerce Objective / Multiple Choice Medium Difficulty
Question 44 GCE_MODEL_QUESTIONS_VOL1 • 2025 • COMMERCE • objective

Three partners A, B and C start a partnership with capital contributions of \(\text{₦}120{,}000\), \(\text{₦}80{,}000\) and \(\text{₦}100{,}000\) respectively. The profit‑sharing agreement states that first each partner receives a fixed salary of \(\text{₦}15{,}000\), then interest of 5 % per annum on his capital, and any remaining profit is divided in the ratio of their capital contributions. If the partnership earns a net profit of \(\text{₦}210{,}000\) before any allocations, how much profit does each partner finally receive?

Answer Options

A. A: ₦75,000; B: ₦55,000; C: ₦65,000
B. A: ₦87,000; B: ₦63,000; C: ₦75,000
Correct Answer C. A: ₦81,000; B: ₦59,000; C: ₦70,000
D. A: ₦81,000; B: ₦70,000; C: ₦59,000
Correct Answer
C
Correct Option:
A: ₦81,000; B: ₦59,000; C: ₦70,000

About This Question

This is Gce Model Questions Vol1 2025 Commerce Question 44. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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