Neco Model Questions Vol1 2023 Commerce Question 4
Practice objective / multiple choice question 4 from the 2023 Neco Model Questions Vol1 Commerce examination.
A retailer purchases a batch of 500 units of a product at a total cost of \(₦250,000\), which includes freight of \(₦20,000\) and a \(5\%\) import duty on the product value (excluding freight). The retailer intends to apply a markup of \(40\%\) on the unit cost (excluding freight and duty) and to offer a promotional discount of \(10\%\) on the selling price to customers. Determine (a) the final selling price per unit after the discount, and (b) the minimum number of units that must be sold to achieve a profit of \(₦75,000\) after accounting for the discount.
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 4. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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