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JAMB Commerce 2013 Question 23

Question 23

Business Calculations

The rate of turnover of a firm in a given year is 5 times while the average stock is ₦12,500. What is the turnover of the firm?

  1. A.₦24,000.
  2. B.₦46,500.
  3. C.₦62,500.
  4. D.₦65,000.
Show the answer and explanation

Answer: C (₦62,500.)

Explanation

Turnover = 5 × 12 500 = ₦62 500.