Gce Model Questions Vol1 2018 Commerce Question 9
Practice objective / multiple choice question 9 from the 2018 Gce Model Questions Vol1 Commerce examination.
A retailer sells two types of gadgets. Gadget X has a cost price of ₦3,200 and is sold with a markup of 30 % on cost. Gadget Y has a cost price of ₦4,500 and is sold with a markup of 20 % on cost. During a seasonal promotion a discount of 10 % is applied to the selling price of both gadgets, after which a value‑added tax (VAT) of 7.5 % is added to the discounted price (VAT is collected from customers and passed on, so it does not affect profit). If the retailer sells 150 units of X and 80 units of Y during the season, calculate the total profit earned.
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About This Question
This is Gce Model Questions Vol1 2018 Commerce Question 9. It is one of the objective questions from the 2018 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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