Gce Model Questions Vol1 2023 Commerce Question 6
Practice objective / multiple choice question 6 from the 2023 Gce Model Questions Vol1 Commerce examination.
A company quotes a marked price of \(\text{₦}12{,}500\) per unit. It offers a first discount of 12 % on the marked price, followed by a further discount of 5 % on the reduced price. After the discounts, a sales tax of 7.5 % is added. If the buyer pays within 10 days, a cash discount of 2 % is applied to the amount inclusive of tax. The company also provides a free service valued at \(\text{₦}3{,}200\), whose cost to the company is \(\text{₦}1{,}500\). The cost price per unit for the company is \(\text{₦}9{,}200\). Calculate the effective profit margin (profit as a percentage of the final cash price) to two decimal places.
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About This Question
This is Gce Model Questions Vol1 2023 Commerce Question 6. It is one of the objective questions from the 2023 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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