Neco 2025 Commerce Question 3

Practice objective / multiple choice question 3 from the 2025 Neco Commerce examination.

Neco 2025 Commerce Objective / Multiple Choice Medium Difficulty
Question 3 NECO • 2025 • COMMERCE • objective

Three persons A, B and C form a partnership. Their capital contributions are \(\text{₦}120{,}000\), \(\text{₦}80{,}000\) and \(\text{₦}100{,}000\) respectively. The partnership agreement states that a 5\% interest on each partner's capital for the year will be charged, and partner A will receive a fixed salary of \(\text{₦}10{,}000\) for management. After these adjustments, the remaining profit will be shared in the ratio of the partners' capital contributions. If the net profit before adjustments is \(\text{₦}150{,}000\), determine the amount each partner receives.

Answer Options

A. A: ₦72,000; B: ₦41,333; C: ₦51,667
B. A: ₦70,000; B: ₦36,000; C: ₦45,000
Correct Answer C. A: ₦66,000; B: ₦37,333; C: ₦46,667
D. A: ₦60,000; B: ₦37,333; C: ₦46,667
Correct Answer
C
Correct Option:
A: ₦66,000; B: ₦37,333; C: ₦46,667

About This Question

This is Neco 2025 Commerce Question 3. It is one of the objective questions from the 2025 Neco Commerce examination.

Difficulty level: Medium .

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