Neco 2023 Commerce Question 30
Practice objective / multiple choice question 30 from the 2023 Neco Commerce examination.
A trader imports 500 kg of cocoa beans at a unit cost of (1200) Naira per kilogram. The import duty is 5 % of the CIF value, and a value‑added tax (VAT) of 7.5 % is charged on the sum of the CIF value and the duty. What is the total amount payable in Naira?
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About This Question
This is Neco 2023 Commerce Question 30. It is one of the objective questions from the 2023 Neco Commerce examination.
Difficulty level: Easy .
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