Waec Model Questions Vol1 2020 Commerce Question 33
Practice objective / multiple choice question 33 from the 2020 Waec Model Questions Vol1 Commerce examination.
An importer buys 5,000 kg of cocoa beans at $2.00 per kg. Freight costs $0.30 per kg and insurance is 0.5% of the CIF value. Import duty is 20% of the CIF value and a surcharge of 2% of the CIF value also applies. The exchange rate is $1 = ₦460. After all costs, the importer wants a profit margin of 15% on the total landed cost in Naira. What should be the selling price per kilogram in Naira (rounded to two decimal places)?
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About This Question
This is Waec Model Questions Vol1 2020 Commerce Question 33. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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