Waec Model Questions Vol1 2020 Commerce Question 17
Practice objective / multiple choice question 17 from the 2020 Waec Model Questions Vol1 Commerce examination.
An importer purchases goods on FOB terms for $50,000. Shipping costs $2,000 and insurance is $500. Import duty is charged at 12 % of the CIF value (CIF = cost + insurance + freight). After duty, a customs clearance fee equal to 2 % of the duty amount is payable. The importer also pays a bank commission of 1.5 % on the total amount paid (including duty and clearance). If the shipment contains 5,000 identical units, what is the effective cost per unit in dollars (rounded to two decimal places)?
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About This Question
This is Waec Model Questions Vol1 2020 Commerce Question 17. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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