Neco 2023 Commerce Question 11
Practice objective / multiple choice question 11 from the 2023 Neco Commerce examination.
A trader buys 150 shares of Company A at \(\text{₦}2,400\) each and 200 shares of Company B at \(\text{₦}1,800\) each. He pays a brokerage commission of \(0.5\%\) on the total purchase cost and a transaction tax of \(0.1\%\) on the same amount. Later he sells all the shares at the same price per share, but pays a higher commission of \(0.75\%\) on the sale proceeds. What is the minimum selling price per share (in ₦, rounded up to the nearest naira) that will give him at least a \(20\%\) profit on his total outlay?
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About This Question
This is Neco 2023 Commerce Question 11. It is one of the objective questions from the 2023 Neco Commerce examination.
Difficulty level: Hard .
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