Waec Model Questions Vol1 2018 Commerce Question 45
Practice objective / multiple choice question 45 from the 2018 Waec Model Questions Vol1 Commerce examination.
An importer plans to import 10,000 units of a product. The invoice price per unit in US dollars is $12. The exchange rate is ₦410 per $1. The import duty is 5% of the CIF (Cost, Insurance, Freight) value, freight charges are $0.80 per unit, and insurance is 1% of the CIF value. The importer negotiates a discount of 3% on the total invoice price (before duty and other charges). Determine the total amount in naira that the importer must pay, including duty, freight, insurance, after the discount.
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About This Question
This is Waec Model Questions Vol1 2018 Commerce Question 45. It is one of the objective questions from the 2018 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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