Neco Model Questions Vol1 2022 Commerce Question 50

An investor initially buys 200 shares of Company X at \(\text{₦}1{,}200\) each. He sells 80 shares when the market price rises to \(\text{₦}1{,}500\) per share, paying a brokerage fee of 0.5% on the sale proceeds. He then uses the net cash received to purchase shares of Company Y at \(\text{₦}2{,}800\) each, paying a brokerage fee of 0.75% on the purchase amount. After one month the price of Company Y shares rises to \(\text{₦}3{,}200\) each. Assuming the remaining 120 shares of Company X retain the price \(\text{₦}1{,}500\), does the investor achieve an overall return of at least 12% on his original investment in Company X (i.e., based on the initial outlay of 200\times1,200)? State the actual percentage return achieved.