Question on: JAMB Commerce - 2012
If the rate of turnover of a company in 1999 was 4 times while the average stock was N 49,600, determine the turnover.
A
N 199,400
B
N 198,400
C
N100,200
D
N99,200
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Correct Option: B
To determine the turnover, we can use the formula:
Turnover = Rate of Turnover * Average Stock
Given:
Rate of Turnover = 4
Average Stock = N 49,600
Turnover = 4 * N 49,600 = N 198,400
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