Waec Model Questions Vol1 2019 Commerce Question 38

Practice objective / multiple choice question 38 from the 2019 Waec Model Questions Vol1 Commerce examination.

Waec Model Questions Vol1 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 38 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

Three persons A, B and C form a partnership. Their capital contributions are ₦120,000, ₦80,000 and ₦100,000 respectively. The partnership agreement states that each partner first receives interest at 10% on his capital, and the remaining profit is shared in the ratio of their capital contributions. If the total profit for the year is ₦150,000, how much profit does each partner receive?

Answer Options

A. A: ₦62,000, B: ₦42,000, C: ₦46,000
B. A: ₦55,000, B: ₦45,000, C: ₦50,000
C. A: ₦58,000, B: ₦38,000, C: ₦54,000
Correct Answer D. A: ₦60,000, B: ₦40,000, C: ₦50,000
Correct Answer
D
Correct Option:
A: ₦60,000, B: ₦40,000, C: ₦50,000

About This Question

This is Waec Model Questions Vol1 2019 Commerce Question 38. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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