Neco Model Questions Vol1 2022 Commerce Question 12
Practice objective / multiple choice question 12 from the 2022 Neco Model Questions Vol1 Commerce examination.
Three partners A, B and C invest capital of \(\text{₦}120,000\), \(\text{₦}80,000\) and \(\text{₦}100,000\) respectively for one year. The firm earns a net profit of \(\text{₦}84,000\) before interest. The partnership agreement states that interest on capital is charged at 10% per annum, a short‑term loan of \(\text{₦}50,000\) is taken at 12% interest and this interest is deducted from profit before distribution, and the remaining profit is divided in the ratio of the partners' capital contributions. How much profit does partner B receive?
Answer Options
About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 12. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.