Neco 2018 Commerce Question 49
Practice objective / multiple choice question 49 from the 2018 Neco Commerce examination.
An importer buys machinery with a CIF price of \(\$120,000\). Insurance costs 0.5% of the CIF price, freight from the port to the warehouse is \(\$4,500\), customs duty is 15% of the sum of CIF price and insurance, and VAT is 7.5% of the total of CIF price, insurance, freight and duty. Calculate the total landed cost in dollars.
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About This Question
This is Neco 2018 Commerce Question 49. It is one of the objective questions from the 2018 Neco Commerce examination.
Difficulty level: Medium .
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