Gce Model Questions Vol1 2023 Commerce Question 1
Practice objective / multiple choice question 1 from the 2023 Gce Model Questions Vol1 Commerce examination.
A supplier quotes a marked price of \(\₦500{,}000\) for a batch of goods. The supplier offers a trade discount of 10% on the marked price and, if payment is made within 30 days, an additional cash discount of 3% on the amount after the trade discount. After these discounts, a VAT of 7.5% is added to the discounted amount. The buyer pays the final amount; the amount before VAT is taken as the buyer's cost price. The buyer wishes to achieve a profit margin of 18% on this cost price. If the batch contains 2,500 units, what selling price per unit (excluding VAT) should the buyer set to obtain the desired profit margin?
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 1. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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