Gce Model Questions Vol1 2023 Commerce Question 47
Practice objective / multiple choice question 47 from the 2023 Gce Model Questions Vol1 Commerce examination.
An importer wants to bring \(5\,000\) kg of cocoa beans. The world market price is \(\$2.40\) per kg and shipping‑insurance costs \(\$0.30\) per kg. A customs duty of \(12\%\) is levied on the CIF value, and a surcharge of \(5\%\) is applied to the duty amount. The importer converts the total cost to Naira at a spot rate of \(₦460\) per \(\$1\) but receives a 2 % discount on the conversion rate. What total amount in Naira must the importer pay?
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 47. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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