Waec Model Questions Vol1 2023 Commerce Question 15
Practice objective / multiple choice question 15 from the 2023 Waec Model Questions Vol1 Commerce examination.
A Nigerian importer buys 10,000 kg of cocoa beans at US$2.50 per kg. The exchange rate is ₦460 per US$. Shipping and insurance cost ₦150,000. Import duty is 5 % of the CIF (cost, insurance, freight) value in naira. After clearing, the importer sells the beans at ₦1,300 per kg. Compute the profit earned on this transaction.
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 15. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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