Neco 2019 Commerce Question 45

Practice objective / multiple choice question 45 from the 2019 Neco Commerce examination.

Neco 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 45 NECO • 2019 • COMMERCE • objective

Three partners A, B and C start a business with capital contributions of ₦120,000, ₦180,000 and ₦200,000 respectively. They agree that profit will be shared in proportion to capital contributions after first paying interest on capital at 8\% per annum to each partner. At the end of the year the business makes a net profit of ₦150,000 before interest. Determine the total amount of profit each partner receives after interest is paid.

Answer Options

A. A: ₦46,267; B: ₦51,067; C: ₦52,667
B. A: ₦45,600; B: ₦68,400; C: ₦76,000
Correct Answer C. A: ₦36,000; B: ₦54,000; C: ₦60,000
D. A: ₦26,400; B: ₦39,600; C: ₦44,000
Correct Answer
C
Correct Option:
A: ₦36,000; B: ₦54,000; C: ₦60,000

About This Question

This is Neco 2019 Commerce Question 45. It is one of the objective questions from the 2019 Neco Commerce examination.

Difficulty level: Medium .

View More Neco 2019 Commerce Questions More Neco Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support