Neco Model Questions Vol1 2024 Commerce Question 46
Practice objective / multiple choice question 46 from the 2024 Neco Model Questions Vol1 Commerce examination.
A Nigerian exporter has a contract to sell goods worth \(\$50,000\). The export process involves the following deductions in order: a 5% export duty on the contract value, a bank commission of 2% on the amount remaining after the duty, conversion to Naira at an exchange rate of \(1\ \text{USD}=\,\text{₦}780\) with an additional 1% conversion surcharge on the Naira amount. What is the net amount in Naira that the exporter receives?
Answer Options
About This Question
This is Neco Model Questions Vol1 2024 Commerce Question 46. It is one of the objective questions from the 2024 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.