Neco Model Questions Vol1 2025 Commerce Question 30
Practice objective / multiple choice question 30 from the 2025 Neco Model Questions Vol1 Commerce examination.
A trader imports 5,000 units of a gadget. The FOB price is $8 per unit and the total shipping and insurance cost is $1,200. Import duty is \(12\%\) ad valorem on the CIF value, and a VAT of \(5\%\) is charged on the sum of CIF value and duty. The exchange rate is \(₦460\) per US dollar. The trader wants a profit margin of \(25\%\) on the total landed cost in Naira. What should be the selling price per unit in Naira (rounded to the nearest Naira)?
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About This Question
This is Neco Model Questions Vol1 2025 Commerce Question 30. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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