Neco 2019 Commerce Question 5
Practice objective / multiple choice question 5 from the 2019 Neco Commerce examination.
A Nigerian importer wants to bring in 8,000 units of a product whose world price is $15 per unit. The first 5,000 units are covered by a preferential tariff of (5\%), while the remaining units are subject to the standard import tariff of (20\%). The exchange rate is ₦420 per $. Calculate the total cost in naira for the importer.
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About This Question
This is Neco 2019 Commerce Question 5. It is one of the objective questions from the 2019 Neco Commerce examination.
Difficulty level: Medium .
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