Neco 2023 Commerce Question 17
Practice objective / multiple choice question 17 from the 2023 Neco Commerce examination.
An importer buys cocoa beans from Ghana at a FOB price of \(\$2.20\) per kg and pays a shipping cost of \(\$0.30\) per kg. Import duty is 5% ad valorem on the CIF value, and a surcharge of 2% is charged on the duty amount. The bank commissions 1% on the total of CIF, duty and surcharge. If the exchange rate is \(\text{₦}460\) per \(\$1\), calculate the total landed cost in naira per kilogram.
Answer Options
About This Question
This is Neco 2023 Commerce Question 17. It is one of the objective questions from the 2023 Neco Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.