Post Utme Pan Atlantic University 2024 Economics Question 21

Practice objective / multiple choice question 21 from the 2024 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2024 Economics Objective / Multiple Choice
Question 21 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 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. ₦120
C. ₦150
D. ₦200
Correct Answer
B
Correct Option:
₦120

About This Question

This is Post Utme Pan Atlantic University 2024 Economics Question 21. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Economics examination.

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