Neco 2020 Commerce Question 1
Practice objective / multiple choice question 1 from the 2020 Neco Commerce examination.
A merchant purchases \(150\) units of a product at ₦2,400 each. He wants to earn a profit of \(25\%\) on his total cost. He will set a marked price per unit, then give a first discount of \(10\%\) on the marked price, a second discount of \(5\%\) on the reduced price, and finally a cash discount of \(2\%\) if the buyer pays within 10 days. What should be the marked price per unit (in naira, rounded to the nearest naira) so that after all discounts the merchant still achieves his desired profit?
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About This Question
This is Neco 2020 Commerce Question 1. It is one of the objective questions from the 2020 Neco Commerce examination.
Difficulty level: Hard .
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