Waec Model Questions Vol1 2021 Commerce Question 15
Practice objective / multiple choice question 15 from the 2021 Waec Model Questions Vol1 Commerce examination.
An importer plans to bring 5,000 units of a gadget. The supplier's invoice is US$8 per unit. The exchange rate is ₦460 per US$. The importer must pay a 5% import duty on the CIF value, a 2% surcharge on the duty, insurance of 0.5% of the CIF value, and a bank commission of 1% on the amount converted. Calculate the total landed cost per unit in Naira. If the importer desires a profit margin of 20% on the landed cost, what selling price per unit should be set?
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About This Question
This is Waec Model Questions Vol1 2021 Commerce Question 15. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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