Neco Model Questions Vol1 2025 Commerce Question 39

Practice objective / multiple choice question 39 from the 2025 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2025 Commerce Objective / Multiple Choice Medium Difficulty
Question 39 NECO_MODEL_QUESTIONS_VOL1 • 2025 • COMMERCE • objective

Three partners A, B and C invest capital of \(₦500,000\), \(₦300,000\) and \(₦200,000\) respectively for a period of 2 years. The partnership agreement provides that a \(5\%\) per annum interest on each partner's capital is paid before profit sharing, and the remaining profit is divided in proportion to the capital contributed. At the end of the 2‑year period the partnership records a profit of \(₦240,000\) after paying the interest. Determine the amount of profit each partner receives.

Answer Options

Correct Answer A. A: ₦120,000; B: ₦72,000; C: ₦48,000
B. A: ₦108,000; B: ₦64,800; C: ₦43,200
C. A: ₦115,200; B: ₦69,120; C: ₦55,680
D. A: ₦126,000; B: ₦63,000; C: ₦51,000
Correct Answer
A
Correct Option:
A: ₦120,000; B: ₦72,000; C: ₦48,000

About This Question

This is Neco Model Questions Vol1 2025 Commerce Question 39. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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