Waec Model Questions Vol1 2025 Commerce Question 35
Practice objective / multiple choice question 35 from the 2025 Waec Model Questions Vol1 Commerce examination.
A trader draws a bill of exchange for ₦500,000 payable in 90 days. A bank discounts the bill at a simple discount rate of 12 % per annum and also charges a discount commission of 1.5 % of the discounted amount. In addition, the bank imposes a flat processing fee of ₦2,500. How much cash will the trader receive when the bill is discounted?
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About This Question
This is Waec Model Questions Vol1 2025 Commerce Question 35. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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