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Given:                            ...

Commerce
JAMB 2020

Given:
                                     ₦
Sales                          15,000
Opening stock            5,600
Purchases                    9,700
Closing stock               4,400
Gross profit                  4,500
Net profit                      2,000

From the above data, calculate the rate of turnover

  • A. 2.00 times
  • B. 3.50 times
  • C. 2.18 times
  • D. 3.00 times
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Correct Answer: Option C
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JAMB CBT 2024 - Candidates, Schools, Centres, Resellers - Get Ready!
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
JAMB CBT Mobile App 2024 - Free Download
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
JAMB CBT Mobile App 2024 - Free Download
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
JAMB CBT 2024 - Candidates, Schools, Centres, Resellers - Get Ready!
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709