Neco 2025 Commerce Question 4
Practice objective / multiple choice question 4 from the 2025 Neco Commerce examination.
An importer brings goods with a CIF value of \(\text{₦}2{,}000{,}000\). Customs duty is charged at 5\% on the first \(\text{₦}1{,}000{,}000\) and at 10\% on the amount exceeding \(\text{₦}1{,}000{,}000\). A surcharge of 2\% is then applied on the total duty. Calculate the total customs duty payable.
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About This Question
This is Neco 2025 Commerce Question 4. It is one of the objective questions from the 2025 Neco Commerce examination.
Difficulty level: Easy .
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