Question 18
Commercial ArithmeticA trader paid import duty of 38 kobo in the naira on the cost of an engine. If a total of ₦22,800.00 was paid as import duty, calculate the cost of the engine.
- A.₦60,000.00
- B.₦120,000.00
- C.₦24,000.00
- D.₦18,000.00
Show the answer and explanation
Answer: A (₦60,000.00)
Explanation
Duty is ₦0.38 for every ₦1, so the cost = 22,800 ÷ 0.38 = ₦60,000.