Neco 2023 Commerce Question 12
Practice objective / multiple choice question 12 from the 2023 Neco Commerce examination.
A retailer purchases a batch of goods for \(\text{₦}45,000\). He adds a profit margin of \(25\%\) on cost and then applies a Value Added Tax of \(7.5\%\) on the selling price before VAT. What is the final selling price inclusive of VAT (rounded to the nearest naira)?
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About This Question
This is Neco 2023 Commerce Question 12. It is one of the objective questions from the 2023 Neco Commerce examination.
Difficulty level: Easy .
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