Neco Model Questions Vol1 2023 Commerce Question 31
Practice objective / multiple choice question 31 from the 2023 Neco Model Questions Vol1 Commerce examination.
A Nigerian exporter sells goods priced at US$\(12{,}000\). The bank converts the amount at an exchange rate of \(\text{₦}780\) per US$ and charges a commission of \(5\%\) on the converted Naira amount. Before the commission is deducted, the government imposes a local tax of \(10\%\) on the converted amount. What is the exporter's net revenue in Naira after the tax and the bank's commission have been deducted?
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 31. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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