Neco Model Questions Vol1 2021 Commerce Question 8
Practice objective / multiple choice question 8 from the 2021 Neco Model Questions Vol1 Commerce examination.
A consumer bought a refrigerator for ₦120 000 with a 2‑year warranty covering repair costs. After 18 months the refrigerator fails. The repair cost is ₦15 000. The consumer is also entitled to depreciation compensation equal to \(30\%\) of the original price per year of use. The seller offers either (i) to repair the refrigerator (cost covered) or (ii) to replace it with a new one at a \(20\%\) discount off the original price. Assuming the consumer will choose the option that gives the higher monetary benefit, which option should the consumer select and what is the total monetary benefit received (in naira)?
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About This Question
This is Neco Model Questions Vol1 2021 Commerce Question 8. It is one of the objective questions from the 2021 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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