Neco Model Questions Vol1 2023 Commerce Question 26

Practice objective / multiple choice question 26 from the 2023 Neco Model Questions Vol1 Commerce examination.

Neco Model Questions Vol1 2023 Commerce Objective / Multiple Choice Easy Difficulty

Question 26 NECO_MODEL_QUESTIONS_VOL1 • 2023 • COMMERCE • objective

A shopkeeper purchases 120 units of a product at \(\text{₦}500\) each. He sells 30 % of the stock at a 10 % profit on cost and the remaining units at a 5 % loss on cost. Determine whether he makes an overall profit or loss and state the amount.

Answer Options

A. Profit of ₦300

B. Profit of ₦200

Correct Answer C. Loss of ₦300

D. Loss of ₦500

Correct Answer

Correct Option:

Loss of ₦300

About This Question

This is Neco Model Questions Vol1 2023 Commerce Question 26. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.

Difficulty level: Easy .

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Neco Model Questions Vol1 2023 Commerce Question 26

A shopkeeper purchases 120 units of a product at \(\text{₦}500\) each. He sells 30 % of the stock at a 10 % profit on cost and the remaining units at a 5 % loss on cost. Determine whether he makes an overall profit or loss and state the amount.

Answer Options

About This Question

Master the Exam!

A shopkeeper purchases 120 units of a product at \(\text{₦}500\) each. He sells 30 % of the stock at a 10 % profit on cost and the remaining units at a 5 % loss on cost. Determine whether he makes an overall profit or loss and state the amount.