Neco Model Questions Vol1 2018 Commerce Question 9
Practice objective / multiple choice question 9 from the 2018 Neco Model Questions Vol1 Commerce examination.
A trader first buys 1,000 shares of Company Z at \(\text{₦}200\) each. Later he buys another 600 shares at a price 12% higher than the first purchase price. He then sells 800 shares at a price that is 8% lower than the average purchase price of the shares he still holds after the sale. Capital‑gains tax is 15% on any profit. The trader wants the net proceeds from the sale (after tax) to be at least \(\text{₦}150,000\). What is the minimum selling price per share (in naira) he must set?
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About This Question
This is Neco Model Questions Vol1 2018 Commerce Question 9. It is one of the objective questions from the 2018 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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