Neco Model Questions Vol1 2020 Commerce Question 38

Practice objective / multiple choice question 38 from the 2020 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2020 Commerce Objective / Multiple Choice Medium Difficulty
Question 38 NECO_MODEL_QUESTIONS_VOL1 • 2020 • COMMERCE • objective

Three partners A, B and C invest capital of \(200,000\), \(300,000\) and \(500,000\) naira respectively for a period of \(3\) years. They agree that interest on capital at \(5\%\) per annum will be paid first, and the remaining profit will be shared in the ratio of their capitals. If the total profit before distribution is \(720,000\) naira, determine the amount each partner receives.

Answer Options

Correct Answer A. A:114000, B:171000, C:285000
B. A:144000, B:216000, C:360000
C. A:95000, B:190000, C:285000
D. A:124000, B:186000, C:310000
Correct Answer
A
Correct Option:
A:114000, B:171000, C:285000

About This Question

This is Neco Model Questions Vol1 2020 Commerce Question 38. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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