Neco Model Questions Vol1 2018 Commerce Question 3
Practice objective / multiple choice question 3 from the 2018 Neco Model Questions Vol1 Commerce examination.
Three partners invest capital for different periods in a business. Partner A invests \(\text{₦}50,000\) for 6 months, Partner B invests \(\text{₦}30,000\) for 9 months, and Partner C invests \(\text{₦}20,000\) for 12 months. At the end of the year the partnership makes a total profit of \(\text{₦}84,000\). Profits are shared in proportion to the product of capital and time (capital \(\times\) months). How much profit does each partner receive (in naira, to two decimal places)?
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About This Question
This is Neco Model Questions Vol1 2018 Commerce Question 3. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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