Neco 2024 Commerce Question 2
Practice objective / multiple choice question 2 from the 2024 Neco Commerce examination.
An importer purchases goods priced at \(US\$45,000\). The exchange rate is \(\text{₦}460\) per US\$, and the bank charges a commission of \(2\%\) on the converted amount. The importer receives a \(5\%\) early‑payment discount on the goods price and pays a freight forwarding fee of \(\text{₦}150,000\). If the importer wants a profit margin of \(12\%\) on the total landed cost, what should be the selling price in Naira?
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About This Question
This is Neco 2024 Commerce Question 2. It is one of the objective questions from the 2024 Neco Commerce examination.
Difficulty level: Medium .
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