Neco Model Questions Vol1 2019 Commerce Question 41
Practice objective / multiple choice question 41 from the 2019 Neco Model Questions Vol1 Commerce examination.
A retailer buys a product at an unknown cost price \(C\) per unit. He marks up the price by 40% to obtain the marked price. He then offers a seasonal discount of 15% on the marked price, followed by a clearance discount of 10% on the already discounted price. After the final selling price is set, a sales commission of 5% of that selling price is paid to the sales staff. The retailer collects a sales tax of 5% from the customer, which he remits to the government (the tax is not part of his revenue). If the retailer's profit as a percentage of the original cost price is \(P\)%, find \(P\) (rounded to two decimal places).
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About This Question
This is Neco Model Questions Vol1 2019 Commerce Question 41. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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