Gce Model Questions Vol1 2024 Commerce Question 47
Practice objective / multiple choice question 47 from the 2024 Gce Model Questions Vol1 Commerce examination.
A UK exporter sells goods priced at \(\text{£}15\,000\) FOB. Freight and insurance cost \(\text{£}1\,200\). The goods weigh 2 500 kg. Import duty in Nigeria consists of a 12\% ad valorem duty on the CIF value plus a specific duty of \(\text{₦}200\) per kg. The exchange rate is \(\text{£}1 = \text{₦}560\). The importer expects the Naira to depreciate by 3\% before payment and wants the landed cost not to exceed \(\text{₦}12\,000\,000\). Determine the final landed cost in Naira after the expected depreciation and state whether the target can be met.
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About This Question
This is Gce Model Questions Vol1 2024 Commerce Question 47. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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