Waec Model Questions Vol1 2024 Government Question 1
Practice objective / multiple choice question 1 from the 2024 Waec Model Questions Vol1 Government examination.
A state allocates funds to each Local Government Area (LGA) using the formula Allocation = ₦50,000,000 × (1 + 0.05 × (P/100 000)) × (1 + 0.02 × I) where P is the projected population of the LGA (in persons) and I is its performance index (0-10). The LGA currently has a population of 250,000 and a performance index of 7. Its population is expected to grow at 2.5 % per year for the next three years. For every full 5 % increase in population over the initial 250,000, the performance index is reduced by 1 point. What is the amount allocated to the LGA after three years? Express your answer in naira to the nearest naira.
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This is Waec Model Questions Vol1 2024 Government Question 1. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Government examination.
Difficulty level: Hard .
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