Gce Model Questions Vol1 2019 Commerce Question 14

An investor buys 1,200 shares of a listed company in three transactions: 400 shares at \(\text{₦}45\) each, 500 shares at \(\text{₦}48\) each, and 300 shares at \(\text{₦}46\) each. Each purchase incurs a brokerage fee of 1.2\% of the transaction value. Later the investor sells the shares in two transactions: 700 shares at \(\text{₦}52\) each and 500 shares at \(\text{₦}50\) each, with a brokerage fee of 1.5\% on each sale and a capital‑gains tax of 10\% on the profit of each sale. Assuming the cost base per share is the average purchase price (including purchase brokerage), calculate (a) the total profit after all brokerage and tax charges, and (b) the overall rate of return on the original net investment. Express the profit in naira and the return as a percentage to two decimal places.