Gce Model Questions Vol1 2025 Commerce Question 40

Practice objective / multiple choice question 40 from the 2025 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2025 Commerce Objective / Multiple Choice Easy Difficulty

Question 40 GCE_MODEL_QUESTIONS_VOL1 • 2025 • COMMERCE • objective

A trader imports $3{,}500$ kg of cocoa beans at a world price of US\$2.20 per kg. The exchange rate is $\text{₦}410$ per US\$. Import duty is $5\%$ of the customs value in naira. What total amount in naira must the trader pay for the cocoa beans including duty?

Answer Options

Correct Answer A. ₦3,314,850

B. ₦3,283,280

C. ₦3,234,000

D. ₦3,157,000

Correct Answer

Correct Option:

₦3,314,850

About This Question

This is Gce Model Questions Vol1 2025 Commerce Question 40. It is one of the objective questions from the 2025 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Easy .

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Gce Model Questions Vol1 2025 Commerce Question 40

A trader imports \(3{,}500\) kg of cocoa beans at a world price of US\$2.20 per kg. The exchange rate is \(\text{₦}410\) per US\$. Import duty is \(5\%\) of the customs value in naira. What total amount in naira must the trader pay for the cocoa beans including duty?

Answer Options

About This Question

Master the Exam!

A trader imports \(3{,}500\) kg of cocoa beans at a world price of US\$2.20 per kg. The exchange rate is \(\text{₦}410\) per US\$. Import duty is \(5\%\) of the customs value in naira. What total amount in naira must the trader pay for the cocoa beans including duty?