Waec Model Questions Vol1 2024 Commerce Question 3
Practice objective / multiple choice question 3 from the 2024 Waec Model Questions Vol1 Commerce examination.
An investor buys shares of XYZ Ltd on the Nigerian Stock Exchange in three separate transactions:\n1. 500 shares at ₦1,200 each, brokerage commission 0.5 % of the transaction value;\n2. 300 shares at ₦1,350 each, commission 0.4 %;\n3. 200 shares at ₦1,500 each, commission 0.3 %.\nLater the investor sells all 1,000 shares at a uniform price of ₦1,620 per share. The selling transaction incurs a brokerage commission of 0.6 % and a capital gains tax (CGT) of 10 % on the profit (profit before tax). What is the net profit after all commissions and CGT, in naira, rounded to the nearest naira?
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About This Question
This is Waec Model Questions Vol1 2024 Commerce Question 3. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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