Neco Model Questions Vol1 2022 Commerce Question 37
Practice objective / multiple choice question 37 from the 2022 Neco Model Questions Vol1 Commerce examination.
A retailer buys 200 units of a product at a list price of ₦5,000 per unit. The supplier gives a 12% trade discount on the total invoice and then charges a 5% sales tax on the discounted amount. The retailer wants a profit margin of 25% on the cost **excluding tax**. He also offers a 2% cash discount to customers who pay within 10 days. Determine the cash price a customer must pay within 10 days to achieve the retailer's target profit margin, and the cash price for customers who pay after 10 days (no cash discount).
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About This Question
This is Neco Model Questions Vol1 2022 Commerce Question 37. It is one of the objective questions from the 2022 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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