Neco 2019 Commerce Question 2
Practice objective / multiple choice question 2 from the 2019 Neco Commerce examination.
A Nigerian exporter sells 10,000 kg of cocoa abroad at a world price of $2.50 per kg. The exchange rate is ₦410 per $. The government imposes an export levy of (5\%) on the foreign revenue and a processing fee of (2\%) on the local‑currency proceeds. If the total foreign revenue exceeds $20,000, a rebate of (3\%) on the export levy is granted. Determine the net amount in naira the exporter receives.
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About This Question
This is Neco 2019 Commerce Question 2. It is one of the objective questions from the 2019 Neco Commerce examination.
Difficulty level: Medium .
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