Neco Model Questions Vol1 2021 Commerce Question 27
Practice objective / multiple choice question 27 from the 2021 Neco Model Questions Vol1 Commerce examination.
A retailer buys 150 units of a product whose list price from the wholesaler is ₦1,200 per unit. He receives a trade discount of 10 % on the total invoice and pays a sales commission of 5 % of the selling price to a sales agent. The retailer plans to apply a markup of 25 % on his net cost (after trade discount) to set the selling price. He also offers a cash discount of 2 % to customers who pay within 10 days. Determine the retailer's net profit percentage on the cash‑discounted selling price.
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 27. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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