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JSCE Business Studies 2024 Objective — Question 8

Question 8 of 100 from the Junior Secondary Certificate Examination (JSCE) Business Studies 2024 Objective paper, with the correct answer and a full explanation.

Use the following table to answer this question. Calculate the gross profit.

Diagram for question 8

A. ₦2500
B. ₦3500
C. ₦16,500Correct
D. ₦20,000

Explanation

Gross profit = Sales - Cost of goods sold = 20,000 - 3,500 = ₦16,500.

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