Waec Model Questions Vol1 2019 Commerce Question 40

Practice objective / multiple choice question 40 from the 2019 Waec Model Questions Vol1 Commerce examination.

Waec Model Questions Vol1 2019 Commerce Objective / Multiple Choice Medium Difficulty
Question 40 WAEC_MODEL_QUESTIONS_VOL1 • 2019 • COMMERCE • objective

An importer in Nigeria wishes to import 5,000 units of a product priced at US$12 per unit. The exchange rate is ₦410 per US$. Import duty is 15% of the CIF (cost, insurance, freight) value, and an additional surcharge of 2% is levied on the duty amount. A clearing fee of ₦8,000 is also payable per shipment. Determine the total cost in Naira for the entire shipment and the effective unit cost in Naira after all charges.

Answer Options

A. Total cost = ₦28,298,000; Effective unit cost = ₦5,659.60
Correct Answer B. Total cost = ₦28,371,800; Effective unit cost = ₦5,674.36
C. Total cost = ₦27,619,040; Effective unit cost = ₦5,523.81
D. Total cost = ₦27,680,000; Effective unit cost = ₦5,536.00
Correct Answer
B
Correct Option:
Total cost = ₦28,371,800; Effective unit cost = ₦5,674.36

About This Question

This is Waec Model Questions Vol1 2019 Commerce Question 40. It is one of the objective questions from the 2019 Waec Model Questions Vol1 Commerce examination.

Difficulty level: Medium .

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