Neco Model Questions Vol1 2020 Commerce Question 6
Practice objective / multiple choice question 6 from the 2020 Neco Model Questions Vol1 Commerce examination.
A television has a marked price of ₦120,000. The seller first gives a \(10\%\) discount, then adds a sales tax of \(7.5\%\) on the discounted price. After tax, a promotional voucher of ₦5,000 is applied, but only if the total before the voucher exceeds ₦100,000. The consumer pays the final amount. Under the Consumer Protection Act, the consumer is entitled to a refund of the amount actually paid plus a penalty equal to \(5\%\) of the original marked price because the TV was later found to be a refurbished model. How much total amount, in naira, should the consumer receive as refund including the penalty?
Answer Options
About This Question
This is Neco Model Questions Vol1 2020 Commerce Question 6. It is one of the objective questions from the 2020 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.