Neco 2019 Commerce Question 41
Practice objective / multiple choice question 41 from the 2019 Neco Commerce examination.
A retailer buys goods at a cost price that is \(30\%\) below the marked price of ₦20,000. He sets a selling price S. Customers receive a trade discount of \(10\%\) on S and, if they pay within 10 days, an additional cash discount of \(2\%\) on the discounted price. The retailer also pays a commission of \(5\%\) of the cash received to a sales agent. Determine the minimum integer selling price S (in Naira) that will give the retailer a net profit of at least ₦5,000.
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About This Question
This is Neco 2019 Commerce Question 41. It is one of the objective questions from the 2019 Neco Commerce examination.
Difficulty level: Medium .
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