Neco Model Questions Vol1 2017 Commerce Question 12
Practice objective / multiple choice question 12 from the 2017 Neco Model Questions Vol1 Commerce examination.
An investor bought shares of XYZ Ltd on three occasions. - Day 1: 200 shares at ₦(150) each, paying a brokerage commission of 0.5 % on the transaction value. - Day 2: 350 shares at ₦(165) each, with the same commission rate. - Day 3: 150 shares at ₦(158) each, also with a 0.5 % commission. Later he sold 400 shares at a uniform price of ₦(P) per share, paying a selling commission of 0.5 % on the sale value and a capital‑gains tax of 10 % on the profit before tax. What is the minimum selling price (P) (in naira, to two decimal places) that will give him a net profit of at least ₦(20,000) after all commissions and tax?
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About This Question
This is Neco Model Questions Vol1 2017 Commerce Question 12. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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