Neco Model Questions Vol1 2023 Commerce Question 3
Practice objective / multiple choice question 3 from the 2023 Neco Model Questions Vol1 Commerce examination.
An investor buys 200 shares of XYZ at \(₦1,200\) each and later buys another 150 shares at \(₦1,350\) each. A brokerage fee of \(0.5\%\) of the transaction value is charged on each purchase. The investor then sells 180 shares at a market price of \(₦1,500\) each, paying a selling brokerage fee of \(0.75\%\) of the sale value. The investor wishes to achieve a net profit of at least \(₦30,000\) after all fees. What is the minimum market price per share at which the remaining 170 shares must be sold (with the same \(0.75\%\) selling fee) to meet the target profit?
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 3. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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