Neco 2024 Commerce Question 37
Practice objective / multiple choice question 37 from the 2024 Neco Commerce examination.
Three partners A, B and C invest \(\text{₦}120,000\), \(\text{₦}80,000\) and \(\text{₦}100,000\) respectively in a business. The partnership agreement states that each partner receives interest on his capital at 5% per annum, A receives a fixed salary of \(\text{₦}30,000\), B receives a fixed salary of \(\text{₦}20,000\), and the remaining profit is shared in the ratio of their capital contributions. If the total profit for the year is \(\text{₦}200,000\), how much does partner C receive?
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About This Question
This is Neco 2024 Commerce Question 37. It is one of the objective questions from the 2024 Neco Commerce examination.
Difficulty level: Medium .
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