Waec Model Questions Vol1 2021 Commerce Question 45

Practice objective / multiple choice question 45 from the 2021 Waec Model Questions Vol1 Commerce examination.

Waec Model Questions Vol1 2021 Commerce Objective / Multiple Choice Medium Difficulty
Question 45 WAEC_MODEL_QUESTIONS_VOL1 • 2021 • COMMERCE • objective

Three partners A, B and C start a partnership with capital contributions of ₦120,000, ₦80,000 and ₦100,000 respectively. The partnership agreement states that each partner first receives a 5 % interest on his capital for the year, and the remaining profit is shared in proportion to the capital contributions. At the end of the year the partnership earned a net profit of ₦96,000 before interest. How much profit does each partner receive after the interest has been paid?

Answer Options

A. A receives ₦44,400; B receives ₦25,600; C receives ₦32,000
Correct Answer B. A receives ₦38,400; B receives ₦25,600; C receives ₦32,000
C. A receives ₦44,400; B receives ₦29,600; C receives ₦37,000
D. A receives ₦32,400; B receives ₦21,600; C receives ₦27,000
Correct Answer
B
Correct Option:
A receives ₦38,400; B receives ₦25,600; C receives ₦32,000

About This Question

This is Waec Model Questions Vol1 2021 Commerce Question 45. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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