Neco 2020 Commerce Question 35
Practice objective / multiple choice question 35 from the 2020 Neco Commerce examination.
An investor buys shares of XYZ on three different days:\n\n- Day 1: 200 shares at \(\₦1{,}250\) each, commission 0.5 % of the transaction value;\n- Day 2: 150 shares at \(\₦1{,}300\) each, commission 0.5 %;\n- Day 3: 250 shares at \(\₦1{,}280\) each, commission 0.5 %.\n\nLater the investor sells 400 shares at \(\₦1{,}350\) each, paying a selling commission of 0.5 % and a securities transaction tax (STT) of 0.25 % on the gross sale proceeds.\n\nAssuming the cost of the sold shares is determined using the weighted‑average cost method, compute the investor's net profit (or loss) after all commissions and tax, in Naira.
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About This Question
This is Neco 2020 Commerce Question 35. It is one of the objective questions from the 2020 Neco Commerce examination.
Difficulty level: Hard .
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