Neco Model Questions Vol1 2023 Commerce Question 20
Practice objective / multiple choice question 20 from the 2023 Neco Model Questions Vol1 Commerce examination.
A consumer buys a washing machine for \(\N{Naira}120,000\). The seller offers a 2‑year warranty covering parts only. The machine depreciates linearly to zero over 8 years. After 3 years the machine breaks down and the repair cost is \(\N{Naira}15,000\) (12.5% of the original price). Under consumer‑protection law the consumer may return the machine within 30 days of repair and receive a refund of its current depreciated value, but the seller charges a restocking fee of 5% of that value. Should the consumer return the machine for a refund or keep it and pay for the repair? Show the total cost for each option and state the cheaper choice.
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 20. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Hard .
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