Gce Model Questions Vol1 2017 Commerce Question 1

Practice objective / multiple choice question 1 from the 2017 Gce Model Questions Vol1 Commerce examination.

Gce Model Questions Vol1 2017 Commerce Objective / Multiple Choice Hard Difficulty
Question 1 GCE_MODEL_QUESTIONS_VOL1 • 2017 • COMMERCE • objective

A consumer buys a television with a marked price of \(120{,}000\) Naira. The seller offers a \(10\%\) discount and a promotional cash rebate of \(2\%\) of the discounted price because the consumer registers late. After the rebate the consumer pays a service charge of \(3\%\) on the amount after rebate. The TV later develops a fault and requires a repair costing \(15{,}000\) Naira. The warranty covers \(80\%\) of the repair cost after a deductible of \(2{,}000\) Naira is applied. Calculate the consumer's total out‑of‑pocket expenditure and state whether the consumer made a profit or a loss compared with the original marked price.

Answer Options

A. Total out‑of‑pocket = ₦111,615.20; consumer lost ₦8,384.80 (loss).
B. Total out‑of‑pocket = ₦110,500.50; consumer saved ₦9,499.50 (profit).
C. Total out‑of‑pocket = ₦112,000.00; consumer saved ₦8,000.00 (profit).
Correct Answer D. Total out‑of‑pocket = ₦111,615.20; consumer saved ₦8,384.80 (profit).
Correct Answer
D
Correct Option:
Total out‑of‑pocket = ₦111,615.20; consumer saved ₦8,384.80 (profit).

About This Question

This is Gce Model Questions Vol1 2017 Commerce Question 1. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Commerce examination.

Difficulty level: Hard .

View More Gce Model Questions Vol1 2017 Commerce Questions More Gce Model Questions Vol1 Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support