Waec Model Questions Vol1 2025 Commerce Question 8
Practice objective / multiple choice question 8 from the 2025 Waec Model Questions Vol1 Commerce examination.
An importer buys 5,000 kg of cocoa beans at a foreign price of $2.20 per kg. The shipment is subject to a 5% import duty, a surcharge of 2% on the duty amount, and a handling fee of 0.5% on the total CIF value. The exchange rate at the time of purchase is ₦415 per $. After the shipment arrives, the naira is devalued by 6% against the dollar. Assuming the duties, surcharge and handling fee are payable in naira at the new exchange rate, calculate the total amount in naira that the importer must pay.
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About This Question
This is Waec Model Questions Vol1 2025 Commerce Question 8. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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