Waec Model Questions Vol1 2017 Commerce Question 13
Practice objective / multiple choice question 13 from the 2017 Waec Model Questions Vol1 Commerce examination.
A Nigerian importer wishes to bring electronic goods valued at $150,000 FOB. The goods incur a basic customs duty of 20% on the CIF value (CIF = FOB + freight + insurance). Freight is $12,000 and insurance is $3,000. After the basic duty, an excise duty of 5% is applied on the sum of the FOB value and the basic duty. The importer qualifies for a tariff rebate of 10% on the total duty (basic + excise). What is the total duty, in dollars, that the importer must pay after the rebate?
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About This Question
This is Waec Model Questions Vol1 2017 Commerce Question 13. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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