Neco 2019 Commerce Question 11
Practice objective / multiple choice question 11 from the 2019 Neco Commerce examination.
A retailer purchases 250 units of a product whose list price is \(\text{₦}500\) per unit. The supplier offers a trade discount of \(5\\%\) on the first 100 units, \(8\\%\) on the next 150 units, and no discount on any further units. The retailer also receives a cash discount of \(2\\%\) on the total invoice if payment is made within 10 days. He marks up the goods by \(30\\%\) on the cost price (after all discounts) and sells all 250 units at the marked price. However, 30 units are later returned by customers and a full refund is given. Calculate the retailer's net profit (in naira).
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About This Question
This is Neco 2019 Commerce Question 11. It is one of the objective questions from the 2019 Neco Commerce examination.
Difficulty level: Medium .
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