Neco 2025 Commerce Question 5

Practice objective / multiple choice question 5 from the 2025 Neco Commerce examination.

Neco 2025 Commerce Objective / Multiple Choice Medium Difficulty
Question 5 NECO • 2025 • COMMERCE • objective

A retailer purchases 200 identical items at a total cost of \(\text{₦}480{,}000\) (including freight). The retailer intends to apply a markup of 30\% on the cost price, then offer a seasonal discount of 12\% on the marked price, and finally add a value‑added tax (VAT) of 7.5\% on the discounted price. Determine (a) the final selling price per item that the customer pays, and (b) the retailer's profit per item after all deductions.

Answer Options

A. Final price per item = ₦2,951.52; Profit per item = ₦551.52
B. Final price per item = ₦3,018.60; Profit per item = ₦618.60
Correct Answer C. Final price per item = ₦2,952.02; Profit per item = ₦552.02
D. Final price per item = ₦2,938.79; Profit per item = ₦538.79
Correct Answer
C
Correct Option:
Final price per item = ₦2,952.02; Profit per item = ₦552.02

About This Question

This is Neco 2025 Commerce Question 5. It is one of the objective questions from the 2025 Neco Commerce examination.

Difficulty level: Medium .

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