Neco Model Questions Vol1 2022 Commerce Question 27
Practice objective / multiple choice question 27 from the 2022 Neco Model Questions Vol1 Commerce examination.
A trader wishes to import goods whose cost, insurance and freight (CIF) value is ₦2,000,000. He can choose between two modes of transport: - Sea freight: freight charge ₦150,000 and import duty of 12 % of the CIF value. - Air freight: freight charge ₦300,000 and import duty of 8 % of the CIF value. Which mode results in the lower total landed cost? State the cheaper mode and the corresponding total cost in Naira.
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About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 27. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Easy .
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