Neco Model Questions Vol1 2020 Commerce Question 12
Practice objective / multiple choice question 12 from the 2020 Neco Model Questions Vol1 Commerce examination.
A retailer buys 150 items for a total cost of ₦720,000. He incurs a fixed overhead of ₦48,000 for the month and pays a sales commission of (6\%\) on the total selling revenue. He wishes to set a uniform selling price per item so that his profit after covering overhead and commission equals (20\%\) of the total cost of the batch. What should be the selling price per item (in Naira)?
Answer Options
About This Question
This is Neco Model Questions Vol1 2020 Commerce Question 12. It is one of the objective questions from the 2020 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.