Neco 2023 Commerce Question 7
Practice objective / multiple choice question 7 from the 2023 Neco Commerce examination.
An investor buys 200 shares of Company\,X at \(\text{₦}150\) each and pays a brokerage fee of 1.5\% of the transaction value. He later purchases another 150 shares at \(\text{₦}165\) each, again paying a 1.5\% brokerage fee. He then sells 250 shares at \(\text{₦}180\) each, paying a 1.5\% brokerage fee on the sale and a capital‑gains tax of 10\% on the profit (before tax). Using the weighted‑average cost method, calculate the net profit realised from these transactions. Give your answer in Naira to two decimal places.
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About This Question
This is Neco 2023 Commerce Question 7. It is one of the objective questions from the 2023 Neco Commerce examination.
Difficulty level: Hard .
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