Neco 2021 Commerce Question 49
Practice objective / multiple choice question 49 from the 2021 Neco Commerce examination.
A retailer purchases a batch of goods at a cost price of ₦2,500 per unit. The supplier offers a trade discount of \(12\%\) on the invoice amount if payment is made within 10 days, otherwise the full invoice amount is due. The retailer can also obtain a cash discount of \(2\%\) from his bank on any amount paid within 30 days. The retailer intends to sell each unit at a markup of \(30\%\) over his net acquisition cost (after all discounts). He has cash of ₦1,500,000 available for the purchase. Determine the maximum number of units the retailer can purchase (and therefore sell) while still achieving a profit of at least ₦150,000.
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About This Question
This is Neco 2021 Commerce Question 49. It is one of the objective questions from the 2021 Neco Commerce examination.
Difficulty level: Medium .
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