Neco 2024 Commerce Question 42

Under the Consumer Protection Act, a washing machine is advertised at \(\text{₦}120,000\). The seller adds a hidden environmental surcharge of 5 % of the advertised price, but the consumer is entitled to a statutory rebate of 8 % on the total amount (advertised price plus surcharge). If the consumer returns the machine within 30 days, a restocking fee equal to 2 % of the advertised price is deducted from the rebate. The consumer returns the machine after 20 days and claims the rebate. What is the net amount the consumer ultimately pays, after applying the rebate, the restocking fee, and the 7.5 % value‑added tax (VAT) that is charged on the amount after the rebate?