Waec Model Questions Vol1 2021 Commerce Question 22
Practice objective / multiple choice question 22 from the 2021 Waec Model Questions Vol1 Commerce examination.
An exporter receives US$10,000 and wants to convert it to Naira. The bank's spot rate is ₦750 per US$. The bank charges a commission of x% on the Naira amount after conversion, but if the commission exceeds ₦100,000 it gives a 2% discount on the commission. The exporter finally receives ₦7,350,000. Find the commission rate x (in %), correct to two decimal places.
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About This Question
This is Waec Model Questions Vol1 2021 Commerce Question 22. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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