Gce Model Questions Vol1 2018 Commerce Question 2

A wholesaler purchases a batch of 500 units of a product whose supplier's list price is ₦2 500 per unit. The supplier offers a trade discount of 12 % on the list price and, if payment is made within 10 days, an additional cash discount of 2 % on the already discounted price. The wholesaler intends to set a retail price (list price to retailers) that includes a markup of 30 % on his own cost price. However, for orders of more than 200 units the wholesaler gives retailers a seasonal promotion of 5 % off this retail price. Determine the minimum retail price per unit (before the seasonal promotion) that the wholesaler must set so that, after the promotion, his profit on each unit is at least 20 % of his cost price. Give your answer in naira to two decimal places.