Neco 2022 Commerce Question 7
Practice objective / multiple choice question 7 from the 2022 Neco Commerce examination.
A retailer purchases 500 units of a product at \(\text{₦}2{,}400\) each. If payment is made within 5 days, a trade discount of 5% is applied to the invoice amount, and an additional cash discount of 2% is granted on the amount after the trade discount. The retailer wishes to apply a markup of 30% on his net cost to set the selling price per unit. Determine the selling price per unit when the discounts are taken, and compute the total profit if all units are sold at that price.
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About This Question
This is Neco 2022 Commerce Question 7. It is one of the objective questions from the 2022 Neco Commerce examination.
Difficulty level: Medium .
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