Read the following passage and mark the correct answer.

A restaurant owner in east Chennai has been directed to pay a fine of ₹15,000 to a customer who was asked to shell out ₹38 for a water bottle which had a maximum retail price (MRP) of ₹18. The fine comes at a time when consumer courts are turning the heat on shop-owner who overcharge. In a recent landmark decision, the state consumer commission had slapped a fine of ₹50,000 on a cineplex for similar malpractice. Mr. Mehta was awarded the compensation by east district consumer forum president and member directing Zaika Bazaar, Karkardooma Complex, to compensate Mr. Mehta for overcharging. The Forum said: “The present complaint is covered by the judgment of the state consumer commission in case of Nirulas vs Ankit Jain in which it said no trader or service provider can charge more price than an item’s MRP printed on the packed item, if delivered packed”. Ordering the restaurant owner to discontinue the malpractice, the forum said charging higher amount than MRP, if delivered in packed form, was against the law of the land. Mr. Mehta had bought a bottle of Aquafina water from the restaurant in November last year and was asked to pay ₹38 for it, including a VAT of ₹8, when the bottle had a MRP of ₹18 printed on it.

Which of the following statements can be recognised as importance of consumer protection act from the consumer's point of view after reading the above passage?

Widespread exploitation of consumers

The correct answer is option 3- Widespread exploitation of consumers.

Based on the passage, the importance of the Consumer Protection Act from the consumer's point of view can be recognized through the following aspect of Widespread exploitation of consumers.

The passage highlights how consumers can be overcharged significantly, as illustrated by the restaurant's overcharging of Mr. Mehta and a similar case involving a cineplex. The Consumer Protection Act aims to address and prevent such exploitation by enforcing fair pricing and ensuring that businesses adhere to the Maximum Retail Price (MRP) regulations. It provides a mechanism for consumers to seek redressal and compensation when they are exploited or treated unfairly.