Neco 2017 Commerce Question 28
Practice objective / multiple choice question 28 from the 2017 Neco Commerce examination.
Three partners A, B and C form a partnership. Their initial capital contributions are \(120000\) naira, \(80000\) naira and \(100000\) naira respectively. Profit is shared in proportion to the product of capital contributed and the number of months each partner's capital remains in the business during the year. During the first 4 months all three partners keep their capital in the business, but partner C withdraws his capital after the 4th month. In months 5‑6, A and B keep their original capital. In months 7‑12, partner A adds an additional \(30000\) naira to his capital, while B keeps his original capital and C does not participate. At the end of the year the net profit is \(84000\) naira. How much profit does partner B receive? Give your answer to two decimal places.
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About This Question
This is Neco 2017 Commerce Question 28. It is one of the objective questions from the 2017 Neco Commerce examination.
Difficulty level: Medium .
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