Neco 2018 Commerce Question 20
Practice objective / multiple choice question 20 from the 2018 Neco Commerce examination.
Three partners A, B and C start a partnership with capital contributions of \\(120,000\\) naira, \\(80,000\\) naira and \\(100,000\\) naira respectively. They agree that profit will be shared in proportion to capital contributions, but each partner also receives a monthly interest of \\(1\\%\\) on his capital for the use of his funds. After 6 months, partner B withdraws \\(30,000\\) naira from his capital, reducing his capital for the remaining 6 months. The partnership earns a total net profit of \\(96,000\\) naira for the year. Determine the amount of profit allocated to partner C after accounting for the interest allowances.
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About This Question
This is Neco 2018 Commerce Question 20. It is one of the objective questions from the 2018 Neco Commerce examination.
Difficulty level: Medium .
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