Neco 2017 Commerce Question 28

Practice objective / multiple choice question 28 from the 2017 Neco Commerce examination.

Neco 2017 Commerce Objective / Multiple Choice Medium Difficulty
Question 28 NECO • 2017 • COMMERCE • objective

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.

Answer Options

A. 28800.00
Correct Answer B. 27060.40
C. 26046.51
D. 22527.93
Correct Answer
B
Correct Option:
27060.40

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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