Gce Model Questions Vol1 2023 Commerce Question 32
Practice objective / multiple choice question 32 from the 2023 Gce Model Questions Vol1 Commerce examination.
An importer buys (5{,}000) units of a product. The FOB price is \(\$12\) per unit. Shipping and insurance cost \(\$1{,}500\) in total. An import duty of (8\%\) (ad valorem) is charged on the CIF value (cost, insurance, freight). After the duty, a sales tax of (5\%\) is applied on the total landed cost (including duty). The exchange rate is (460) naira per US\$. The importer wishes to set a selling price per unit that yields a profit margin of (20\%\) on the landed cost per unit. What selling price per unit (in naira) should be charged, rounded to the nearest naira?
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 32. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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