Neco Model Questions Vol1 2017 Commerce Question 21
Practice objective / multiple choice question 21 from the 2017 Neco Model Questions Vol1 Commerce examination.
A wholesaler purchases 500 units of a product for a total cost of \(\text{₦}120,000\). He intends to sell the units to retailers at a list price per unit. He offers a trade discount of \(12\%\) on the list price, and an additional cash discount of \(3\%\) on the discounted price for payments made within 10 days. The wholesaler wants to achieve a net profit margin of \(15\%\) on his total cost after all discounts are taken. What should be the list price per unit (in naira, rounded to two decimal places)?
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About This Question
This is Neco Model Questions Vol1 2017 Commerce Question 21. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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