Gce Model Questions Vol1 2022 Commerce Question 17

A wholesaler purchases a product from a manufacturer. The manufacturer's list price per unit is unknown. The wholesaler receives a trade discount of \(12\%\) on the list price and then adds a markup of \(25\%\) on his cost price to set the wholesale price. He pays a sales commission equal to \(5\%\) of the wholesale price and offers a cash discount of \(3\%\) on the wholesale price to customers who pay within 10 days. The wholesaler's monthly fixed overhead is \(\text{₦}50\,000\) and he purchases \(1\,000\) units each month. He wishes to achieve a net profit of at least \(\text{₦}120\,000\) after all discounts, commissions and overheads. What is the minimum list price per unit (in naira) that will allow him to meet this profit target? Round up to the nearest naira.