Neco 2022 Commerce Question 31
Practice objective / multiple choice question 31 from the 2022 Neco Commerce examination.
A firm sells a machine. The marked price is M. The buyer receives a \(12\%\) discount followed by a \(8\%\) discount on the reduced price. After the discounts, a value‑added tax (VAT) of \(5\%\) is added. The sales representative receives a commission equal to \(3\%\) of the amount after VAT. The firm finally receives \u20A2 2,500,000 as net proceeds. What was the original marked price M?
Answer Options
About This Question
This is Neco 2022 Commerce Question 31. It is one of the objective questions from the 2022 Neco Commerce examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.