Waec Model Questions Vol1 2023 Commerce Question 35
Practice objective / multiple choice question 35 from the 2023 Waec Model Questions Vol1 Commerce examination.
An exporter in Nigeria sells 10,000 units of a product to a foreign buyer at $2 per unit. The exchange rate is ₦460 per $. The exporter incurs freight charges of ₦150,000. The foreign buyer must pay an import tariff equal to 5% of the invoice value in Naira after conversion. The exporter offers a 3% cash discount if payment is made within 30 days; otherwise the full amount is due in 30 days. Calculate the net amount in Naira the exporter will receive if the buyer takes the cash discount.
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 35. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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