Gce Model Questions Vol1 2022 Commerce Question 21
Practice objective / multiple choice question 21 from the 2022 Gce Model Questions Vol1 Commerce examination.
A wholesaler purchases a batch of 500 units of a product for a total cost of ₦120,000. He intends to sell the units to retailers. He sets a marked price of \(M\) naira per unit. Retailers receive a trade discount of \(12\%\) on the marked price, and if they pay within 10 days they obtain an additional cash discount of \(3\%\) on the discounted price. The wholesaler's fixed monthly overhead is ₦15,000. To achieve a monthly profit of ₦30,000, what is the minimum marked price per unit (\(M\)) he should set? Give your answer to two decimal places.
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About This Question
This is Gce Model Questions Vol1 2022 Commerce Question 21. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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