Neco Model Questions Vol1 2021 Commerce Question 1
Practice objective / multiple choice question 1 from the 2021 Neco Model Questions Vol1 Commerce examination.
A retailer purchases a batch of goods for \(\text{₦}120,000\). He intends to apply a single markup percentage to obtain the marked price. He then offers a first discount of \(10\%\) on the marked price, followed by a second discount of \(5\%\) on the reduced price. After the discounts, a sales tax of \(7.5\%\) is added to the selling price. The retailer wants the final selling price to give him a profit of \(20\%\) on his original cost. What markup percentage should he use?
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 1. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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