Neco Model Questions Vol1 2020 Commerce Question 42
Practice objective / multiple choice question 42 from the 2020 Neco Model Questions Vol1 Commerce examination.
A wholesaler purchases 800 units of a product at \(\text{₦}2,400\) each. He offers a \(12\%\) discount on the total invoice to a retailer and, if the retailer pays within 10 days, gives a cash rebate of \(\text{₦}150\) per unit. The wholesaler also pays a commission of \(3\%\) on the net amount received (after discount and rebate) to his sales agent. To achieve an overall profit margin of \(18\%\) on his total cost, what minimum selling price per unit (before the rebate) must the wholesaler quote?
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About This Question
This is Neco Model Questions Vol1 2020 Commerce Question 42. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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