Neco 2019 Commerce Question 48

Practice objective / multiple choice question 48 from the 2019 Neco Commerce examination.

Neco 2019 Commerce Objective / Multiple Choice Hard Difficulty
Question 48 NECO • 2019 • COMMERCE • objective

Three partners A, B and C invest capital of ₦500,000, ₦300,000 and ₦200,000 respectively in a business. The partnership agreement provides that A receives a preferred return of 10 % on his capital before any profit is shared. After the preferred return, the remaining profit is divided in the ratio of their capitals. If the total profit for the year is ₦720,000, determine the profit share of each partner and the percentage return on capital for each.

Answer Options

A. A ₦360,000 (72 %); B ₦216,000 (72 %); C ₦144,000 (72 %)
B. A ₦410,000 (82 %); B ₦216,000 (72 %); C ₦144,000 (72 %)
Correct Answer C. A ₦385,000 (77 %); B ₦201,000 (67 %); C ₦134,000 (67 %)
D. A ₦396,000 (79 %); B ₦194,400 (65 %); C ₦129,600 (65 %)
Correct Answer
C
Correct Option:
A ₦385,000 (77 %); B ₦201,000 (67 %); C ₦134,000 (67 %)

About This Question

This is Neco 2019 Commerce Question 48. It is one of the objective questions from the 2019 Neco Commerce examination.

Difficulty level: Hard .

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