Gce Model Questions Vol1 2024 Commerce Question 13

Practice objective / multiple choice question 13 from the 2024 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2024 Commerce Objective / Multiple Choice Medium Difficulty
Question 13 GCE_MODEL_QUESTIONS_VOL1 • 2024 • COMMERCE • objective

A wholesaler buys a product from a manufacturer at a cost of ₦800 per unit. He adds a markup of \(25\%\) on the cost price and then adds a commission equal to \(12\%\) of the final selling price to cover his services. For orders of 100 units or more he offers a bulk discount of \(6\%\) on the final selling price (after commission). A retailer purchases 150 units. Determine (a) the total amount the retailer must pay, and (b) the wholesaler's total profit on this transaction. Give answers to two decimal places.

Answer Options

Correct Answer A. Total amount = 160,077.27; Profit = 40,077.27
B. Total amount = 158,500.00; Profit = 38,500.00
C. Total amount = 159,900.12; Profit = 39,900.12
D. Total amount = 162,300.45; Profit = 42,300.45
Correct Answer
A
Correct Option:
Total amount = 160,077.27; Profit = 40,077.27

About This Question

This is Gce Model Questions Vol1 2024 Commerce Question 13. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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