Waec Commerce Past Questions and Answers

Question 1706:

• WAEC 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000
What was his net profit?

A. #35,000
B. #25,000
C. #15,000
D. #5,000

Question 1707:

• WAEC 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the percentage of expenses over cost?

A. 50%
B. 33%
C. 25%
D. 17%

Question 1708:

• WAEC 2010

Ojo bought a bicycle for #20,000, and repaired it at a cost of #5,000. He then sold the bicycle for #30,000.
What is the cost of goods sold

A. #30,000
B. #25,000
C. #20,000
D. #15,000

Question 1709:

• WAEC 2010

Which of the following mode of transport involves the use of tramps?

A. Land transport
B. Sea transport
C. Air transport
D. Pipeline

Question 1710:

• WAEC 2010

(a) Define commerce.
(b) Explain six functions of commerce in an economy.