Neco Model Questions Vol1 2021 Commerce Question 21
Practice objective / multiple choice question 21 from the 2021 Neco Model Questions Vol1 Commerce examination.
A trader buys 500 shares of a company at ₦120 each and pays a commission of 0.5 % on the purchase value. He later sells 300 shares at ₦135 each, also paying a commission of 0.5 % on the sale value. The remaining 200 shares are sold at an unknown price \(P\) per share, with the same commission rate of 0.5 %. If the trader wants an overall profit of exactly ₦10,000, what must be the selling price \(P\) (in naira) of the remaining shares? Give your answer to two decimal places.
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 21. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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