Neco Model Questions Vol1 2019 Commerce Question 21
Practice objective / multiple choice question 21 from the 2019 Neco Model Questions Vol1 Commerce examination.
A wholesaler purchases 500 units of a product at ₦2,000 per unit. He intends to sell each unit to retailers at a marked price \(M\) per unit. He offers a trade discount of 12% on \(M\). The manufacturer pays the wholesaler a commission of 5% of the retailer's purchase price (after discount) for each unit sold. The wholesaler wants a net profit of 15% on his total cost after accounting for the commission received. What should be the marked price \(M\) per unit (in naira, to two decimal places)?
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About This Question
This is Neco Model Questions Vol1 2019 Commerce Question 21. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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