Waec Model Questions Vol1 2019 Commerce Question 29

Practice objective / multiple choice question 29 from the 2019 Waec Model Questions Vol1 Commerce examination.

Waec Model Questions Vol1 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 29 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

Three persons A, B and C form a partnership. Their capital contributions are A: ₦200,000, B: ₦150,000, C: ₦150,000. The profit‑sharing ratio is 3:2:1 respectively. The partnership agreement states that interest on capital at 5% per annum is to be paid before profit distribution. At the end of the year the net profit before interest is ₦121,000. Calculate the amount of profit each partner receives after the interest on capital has been paid.

Answer Options

A. A: ₦45,000; B: ₦35,000; C: ₦15,000
B. A: ₦50,000; B: ₦30,000; C: ₦16,000
C. A: ₦48,000; B: ₦30,000; C: ₦18,000
Correct Answer D. A: ₦48,000; B: ₦32,000; C: ₦16,000
Correct Answer
D
Correct Option:
A: ₦48,000; B: ₦32,000; C: ₦16,000

About This Question

This is Waec Model Questions Vol1 2019 Commerce Question 29. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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