Waec Model Questions Vol1 2022 Commerce Question 14
Practice objective / multiple choice question 14 from the 2022 Waec Model Questions Vol1 Commerce examination.
A consumer bought a refrigerator for ₦120,000, which included VAT at the rate of 7.5%. The refrigerator comes with a 2‑year manufacturer's warranty. After 18 months the appliance fails due to a defect. Under the Consumer Protection Act, the seller must refund the consumer the depreciated value of the refrigerator, calculated on a straight‑line basis over an estimated useful life of 8 years, and must also add a compensation of 10% of the purchase price for inconvenience and a penalty of 5% of the purchase price if a replacement is not provided within 30 days. What is the total cash refund the consumer is entitled to receive?
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About This Question
This is Waec Model Questions Vol1 2022 Commerce Question 14. It is one of the objective questions from the 2022 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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