Neco Model Questions Vol1 2023 Commerce Question 46
Practice objective / multiple choice question 46 from the 2023 Neco Model Questions Vol1 Commerce examination.
An investor buys \(500\) shares of XYZ at a market price of \(\₦2{,}350\) per share. The broker charges a commission of \(0.75\%\) of the transaction value and a securities transaction tax (STT) of \(0.25\%\) on the purchase. After \(3\) months the investor sells all shares when the market price is \(\₦2{,}620\) per share. On sale the broker again charges \(0.75\%\) commission and STT of \(0.25\%\) is applied on the sale value. A capital gains tax of \(10\%\) is levied on the profit before tax. Determine the net profit (in \(\₦\)) the investor makes after all charges and taxes.
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 46. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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