Neco Model Questions Vol1 2022 Commerce Question 22
Practice objective / multiple choice question 22 from the 2022 Neco Model Questions Vol1 Commerce examination.
A Nigerian exporter receives an order for 10,000 units. His cost per unit is ₦500. He wants to earn a profit of 25 % on his total cost. The buyer will pay within 30 days and, in return, the exporter offers a 2 % discount on the invoice amount. After the discount, a freight charge of 5 % of the discounted amount is added to the buyer's payment. What minimum invoice amount should the exporter state so that, after the discount and freight charge, he receives the amount required to cover his cost and desired profit?
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About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 22. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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