Gce Model Questions Vol1 2020 Commerce Question 34
Practice objective / multiple choice question 34 from the 2020 Gce Model Questions Vol1 Commerce examination.
A consumer bought a refrigerator for \(\text{₦}120{,}000\). After six months it developed a fault covered by warranty. The retailer can either repair it (cost to retailer \(\text{₦}15{,}000\)) or replace it. The consumer chooses replacement. The refrigerator depreciates at a straight‑line rate of 20\% per year. Under the Consumer Protection Act, the retailer must pay the consumer the difference between the purchase price and the depreciated value of the original fridge, plus a compensation equal to 10\% of the purchase price for inconvenience. Calculate the total amount the retailer must pay the consumer.
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About This Question
This is Gce Model Questions Vol1 2020 Commerce Question 34. It is one of the objective questions from the 2020 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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