Gce Model Questions Vol1 2022 Commerce Question 19
Practice objective / multiple choice question 19 from the 2022 Gce Model Questions Vol1 Commerce examination.
An importer buys \(5\,000\) kg of cocoa beans from Ghana. The invoice price is US\(\$2.20\) per kilogram. The exchange rate is \(\text{₦}460\) per US\(\$\). Freight charges are \(\text{₦}150\) per kilogram. Insurance is charged at \(0.8\%\) of the CIF value (cost + insurance + freight) in naira. An import duty of \(5\%\) is levied on the CIF value. The bank charges a foreign‑exchange commission of \(1.5\%\) on the amount converted. Calculate the total landed cost per kilogram (in naira) incurred by the importer.
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About This Question
This is Gce Model Questions Vol1 2022 Commerce Question 19. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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