Post Utme Greenfield University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy aimed at increa\sing revenue from the agricultural sector. The policy includes a 10% tax on all agricultural produce sold in the market. If a farmer sells 1000 bags of rice at ₦5000 each, what is the total tax payable?

Answer Options

A. ₦50000
Correct Answer B. ₦500000
C. ₦5000000
D. ₦50000000
Correct Answer
B
Correct Option:
₦500000

About This Question

This is Post Utme Greenfield University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Greenfield University Economics examination.

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