Neco Model Questions Vol1 2022 Commerce Question 36

Ali bought a refrigerator for ₦120,000 on 1 March 2022. The refrigerator developed a major defect on 20 April 2022. Under the Consumer Protection Act, a consumer may reject a defective good within \(30\) days of delivery for a full refund, or within \(90\) days for a repair or replacement at no extra cost. The seller offers to repair the refrigerator for a cash payment of ₦15,000 and provides a 6‑month extended warranty. Instead, the seller proposes a 10% discount on Ali's next purchase in lieu of a refund. Assuming Ali is entitled to a refund, calculate the total monetary loss Ali would incur if he accepts the seller's repair offer instead of pursuing the refund, including the opportunity cost of being without the refrigerator for \(30\) days, valued at \(2\%\) of the original price per day.