Waec Model Questions Vol1 2023 Commerce Question 16
Practice objective / multiple choice question 16 from the 2023 Waec Model Questions Vol1 Commerce examination.
A Nigerian importer purchases 5,000 kg of cocoa beans from Ghana at a FOB price of $2.40 per kg. Freight costs $0.30 per kg and insurance is charged at 0.5% of the FOB‑plus‑freight total. Customs duty is 10% of the CIF value (FOB+Freight+Insurance). The exchange rate is ₦460 per US$. The importer wants a profit margin of 15% on the total landed cost (in Naira). What selling price per kilogram in Naira should he quote to achieve this profit?
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 16. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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