Waec Model Questions Vol1 2024 Commerce Question 37
Practice objective / multiple choice question 37 from the 2024 Waec Model Questions Vol1 Commerce examination.
Two partners, A and B, invest capital in a business. A invests ₦120,000 for 8 months, while B invests ₦180,000 for 6 months. At the end of the year the business makes a profit of ₦96,000. Before sharing the profit, the business pays interest on a bank loan of ₦30,000 taken for 6 months at 10% simple interest. The interest expense is deducted from the profit and the remaining profit is shared in proportion to each partner's capital multiplied by the time it was invested. How much profit does each partner receive?
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About This Question
This is Waec Model Questions Vol1 2024 Commerce Question 37. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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