Neco Model Questions Vol1 2021 Commerce Question 18
Practice objective / multiple choice question 18 from the 2021 Neco Model Questions Vol1 Commerce examination.
A firm plans to import \(5{,}000\) kg of cocoa beans. The world price is US\$2 per kg. The exchange rate is \(410\) Naira per US\$. The bank charges a commission of 1.5 % on the foreign‑currency purchase. Freight and insurance amount to \(150{,}000\) Naira. Customs duty is 5 % of the CIF value (cost + insurance + freight) expressed in Naira. Calculate the total landed cost per kilogram in Naira, rounded to the nearest Naira.
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 18. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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