Neco 2024 Commerce Question 24
Practice objective / multiple choice question 24 from the 2024 Neco Commerce examination.
A company imports 10,000 units of a product. The first 4,000 units are subject to a 12 % import duty, the next 3,000 units enjoy a preferential duty rate of 5 % under a trade agreement, and the remaining units are duty‑free. In addition, a customs processing fee of \(\text{₦}250\) per unit is levied on all units. If the CIF value per unit is \(\text{₦}1,200\), calculate the total amount payable (CIF value + duties + processing fees) in Naira.
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About This Question
This is Neco 2024 Commerce Question 24. It is one of the objective questions from the 2024 Neco Commerce examination.
Difficulty level: Medium .
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