Neco Model Questions Vol1 2021 Commerce Question 15
Practice objective / multiple choice question 15 from the 2021 Neco Model Questions Vol1 Commerce examination.
An importer purchases 100 units of a product at \(\text{₦}5{,}000\) each. The customs tariff is \(12\%\) of the CIF value, and value‑added tax (VAT) of \(7.5\%\) is applied on the sum of the CIF value and the tariff. What is the total amount payable in Naira?
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 15. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Easy .
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