Neco 2019 Commerce Question 38
Practice objective / multiple choice question 38 from the 2019 Neco Commerce examination.
A retailer purchases 120 units of a product for a total of ₦1,440,000. He intends to apply a markup of \(x\)% on the cost price to set the regular selling price. He expects that 30\% of the units will be sold at a promotional discount of 15\% off the regular price, while the remaining 70\% will be sold at the regular price. Fixed overhead for the period is ₦120,000. If the retailer wants a profit of ₦360,000 after accounting for the discount sales and overhead, what markup percentage \(x\) must he use? Give your answer to one decimal place.
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About This Question
This is Neco 2019 Commerce Question 38. It is one of the objective questions from the 2019 Neco Commerce examination.
Difficulty level: Medium .
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