Neco 2018 Commerce Question 35

Practice objective / multiple choice question 35 from the 2018 Neco Commerce examination.

Neco 2018 Commerce Objective / Multiple Choice Medium Difficulty
Question 35 NECO • 2018 • COMMERCE • objective

A retailer buys 250 units of a gadget for a total of \(\text{₦}1{,}125{,}000\). The retailer marks up the cost price by 30% to set the selling price. For sales beyond 150 units, a 10% discount on the selling price is given on each additional unit. A sales tax of 5% is added to the final invoice amount (after discounts). If all 250 units are sold, what is the total amount received from customers (including tax) and what is the retailer's profit after accounting for the purchase cost and the tax?

Answer Options

A. Total received ₦1,382,063; profit after tax ₦191,250
Correct Answer B. Total received ₦1,474,200; profit after tax ₦279,000
C. Total received ₦1,404,000; profit after tax ₦279,000
D. Total received ₦1,474,200; profit after tax ₦349,200
Correct Answer
B
Correct Option:
Total received ₦1,474,200; profit after tax ₦279,000

About This Question

This is Neco 2018 Commerce Question 35. It is one of the objective questions from the 2018 Neco Commerce examination.

Difficulty level: Medium .

View More Neco 2018 Commerce Questions More Neco Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support