Neco 2018 Commerce Question 2

Practice objective / multiple choice question 2 from the 2018 Neco Commerce examination.

Neco 2018 Commerce Objective / Multiple Choice Medium Difficulty
Question 2 NECO • 2018 • COMMERCE • objective

Three partners A, B and C invest capital of ₦120,000, ₦180,000 and ₦200,000 respectively in a business. They agree that each partner will receive a fixed salary allowance of ₦12,000, ₦15,000 and ₦18,000 per year respectively, and the remaining profit will be shared in proportion to their capital contributions. If the total profit before salaries is ₦150,000, determine the total earnings of each partner for the year.

Answer Options

A. A: ₦47,000; B: ₦50,000; C: ₦53,000
Correct Answer B. A: ₦37,200; B: ₦52,800; C: ₦60,000
C. A: ₦48,000; B: ₦69,000; C: ₦78,000
D. A: ₦45,120; B: ₦64,680; C: ₦73,200
Correct Answer
B
Correct Option:
A: ₦37,200; B: ₦52,800; C: ₦60,000

About This Question

This is Neco 2018 Commerce Question 2. It is one of the objective questions from the 2018 Neco Commerce examination.

Difficulty level: Medium .

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