Neco 2025 Commerce Question 21
Practice objective / multiple choice question 21 from the 2025 Neco Commerce examination.
A retailer marks a TV at ₦120,000. The retailer offers a 15% discount to members, then an additional 5% discount on the reduced price for a promotional sale. After discounts, a value‑added tax (VAT) of 7.5% is added. The retailer also charges a mandatory extended warranty costing 8% of the pre‑VAT price. A consumer purchases the TV, pays the total amount, and later returns it within the return period. The store refunds the purchase price but deducts a restocking fee equal to 10% of the amount actually paid (including VAT and warranty). If the retailer's cost price for the TV was ₦78,000, determine the retailer's net profit or loss on this transaction.
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About This Question
This is Neco 2025 Commerce Question 21. It is one of the objective questions from the 2025 Neco Commerce examination.
Difficulty level: Hard .
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