Neco Model Questions Vol1 2020 Commerce Question 10
Practice objective / multiple choice question 10 from the 2020 Neco Model Questions Vol1 Commerce examination.
An importer buys 200 units of a product abroad at a unit price of $45. The exchange rate is ₦460 per US dollar. Import duty is \(12\%\) of the CIF value, and a surcharge of \(5\%\) is applied on the duty amount. A handling fee of ₦2,500 per shipment is also charged. The importer wants to earn a profit margin of \(20\%\) on the total landed cost. What should be the selling price per unit, in naira, rounded to the nearest naira?
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About This Question
This is Neco Model Questions Vol1 2020 Commerce Question 10. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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