Post Utme Esut 2024 Economics Question 11

Practice objective / multiple choice question 11 from the 2024 Post Utme Esut Economics examination.

Post Utme Esut 2024 Economics Objective / Multiple Choice
Question 11 POST_UTME_ESUT • 2024 • ECONOMICS • objective

A country's government decides to implement a value-added tax (VAT) to increase revenue. If the VAT rate is 10% and the price of a product is ₦1000, what is the amount of VAT paid by the consumer?

Answer Options

A. ₦100
Correct Answer B. ₦110
C. ₦120
D. ₦130
Correct Answer
B
Correct Option:
₦110

About This Question

This is Post Utme Esut 2024 Economics Question 11. It is one of the objective questions from the 2024 Post Utme Esut Economics examination.

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