Gce Model Questions Vol1 2022 Commerce Question 32

Practice objective / multiple choice question 32 from the 2022 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2022 Commerce Objective / Multiple Choice Easy Difficulty
Question 32 GCE_MODEL_QUESTIONS_VOL1 • 2022 • COMMERCE • objective

A retailer purchases a batch of goods for \(\text{₦}480,000\) and sells the batch for \(\text{₦}600,000\). Calculate the gross profit and express the profit as a percentage of the cost price.

Answer Options

A. Gross profit = ₦130,000; profit percentage = 27%
B. Gross profit = ₦100,000; profit percentage = 20%
C. Gross profit = ₦115,000; profit percentage = 24%
Correct Answer D. Gross profit = ₦120,000; profit percentage = 25%
Correct Answer
D
Correct Option:
Gross profit = ₦120,000; profit percentage = 25%

About This Question

This is Gce Model Questions Vol1 2022 Commerce Question 32. It is one of the objective questions from the 2022 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Easy .

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