Neco Model Questions Vol1 2018 Commerce Question 38
Practice objective / multiple choice question 38 from the 2018 Neco Model Questions Vol1 Commerce examination.
An importer buys 10,000 kg of cocoa beans at a FOB price of US\$2.20 per kg. The exchange rate is \(\text{₦}410\) per US\$. Import duty is 5 % of the CIF value, freight is \(\text{₦}12\) per kg, and insurance is 0.3 % of the CIF value. The importer wants an 18 % profit on the total landed cost. What selling price per kg in naira should the importer set?
Answer Options
About This Question
This is Neco Model Questions Vol1 2018 Commerce Question 38. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.