Post Utme Skyline University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_SKYLINE_UNIVERSITY • 2024 • 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 Skyline University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Skyline University Economics examination.

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