Gce Model Questions Vol1 2020 Commerce Question 32
Practice objective / multiple choice question 32 from the 2020 Gce Model Questions Vol1 Commerce examination.
A wholesaler buys goods at a cost price, adds a 25\% markup to set the wholesale price, a retailer then adds a 30\% markup on the wholesale price, and finally a sales tax of 5\% is applied to the retail price. If the consumer pays \(\text{₦}1{,}560\) in total, what was the original cost price to the wholesaler (to two decimal places)?
Answer Options
About This Question
This is Gce Model Questions Vol1 2020 Commerce Question 32. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.