Waec Model Questions Vol1 2022 Commerce Question 15
Practice objective / multiple choice question 15 from the 2022 Waec Model Questions Vol1 Commerce examination.
An importer wishes to purchase 5,000 units of a product priced at US$12 per unit. The current exchange rate is ₦460 per US$. The import duty is 20% of the CIF (cost, insurance, freight) value, and a surcharge of 5% is levied on the duty amount. If the importer pays the total amount within 10 days, a discount of 2% is granted on the sum of the CIF value, duty, and surcharge. What is the total amount in Naira that the importer must pay after the discount?
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About This Question
This is Waec Model Questions Vol1 2022 Commerce Question 15. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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