Neco 2025 Commerce Question 50
Practice objective / multiple choice question 50 from the 2025 Neco Commerce examination.
A trader imports electronic gadgets worth US\$12,000. The exchange rate is \(\text{₦}460\) per US\$. The customs duty is 5% of the CIF value (cost, insurance, freight). If insurance and freight together amount to \(\text{₦}300,000\), what is the total amount in naira the trader must pay for the goods including customs duty?
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About This Question
This is Neco 2025 Commerce Question 50. It is one of the objective questions from the 2025 Neco Commerce examination.
Difficulty level: Easy .
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