Neco 2021 Commerce Question 21
Practice objective / multiple choice question 21 from the 2021 Neco Commerce examination.
An exporter sells 5,000\,kg of cocoa at a world price of $2.40 per kg. The export is subject to a \(5\%\) export duty, then a \(2\%\) sales tax on the value after duty, and a foreign‑exchange commission of \(3\%\) on the proceeds when converting to Naira at an exchange rate of ₦410 per $. The exporter also receives a government rebate equal to \(1\%\) of the original FOB value (before any duty). What is the net amount in Naira that the exporter receives after all deductions and the rebate?
Answer Options
About This Question
This is Neco 2021 Commerce Question 21. It is one of the objective questions from the 2021 Neco Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.