Neco Model Questions Vol1 2017 Commerce Question 17

Practice objective / multiple choice question 17 from the 2017 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2017 Commerce Objective / Multiple Choice Medium Difficulty
Question 17 NECO_MODEL_QUESTIONS_VOL1 • 2017 • COMMERCE • objective

Partners A, B and C invest in a business as follows: A invests \(30,000\) naira for 8 months, B invests \(45,000\) naira for 5 months, and C invests \(25,000\) naira for 10 months. The net profit of the partnership is \(96,000\) naira and is to be shared in proportion to each partner's capital multiplied by the time the capital was invested. How much profit does each partner receive?

Answer Options

A. A: ₦28,800; B: ₦43,200; C: ₦24,000
Correct Answer B. A: ₦32,224; B: ₦30,210; C: ₦33,566
C. A: ₦33,391; B: ₦20,870; C: ₦41,739
D. A: ₦28,272; B: ₦53,000; C: ₦14,728
Correct Answer
B
Correct Option:
A: ₦32,224; B: ₦30,210; C: ₦33,566

About This Question

This is Neco Model Questions Vol1 2017 Commerce Question 17. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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