Post Utme Covenant University 2020 Economics Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2020 Economics Objective / Multiple Choice
Question 23 POST_UTME_COVENANT_UNIVERSITY • 2020 • ECONOMICS • objective

The government of Nigeria has introduced a new tax policy aimed at increa\sing revenue from the agricultural sector. The policy involves a 10% tax on all agricultural produce sold in the market. If the total revenue from the sale of agricultural produce is ₦1,500,000, what is the amount of tax paid by the farmers?

Answer Options

Correct Answer A. ₦150,000
B. ₦1,500,000
C. ₦1,000,000
D. ₦200,000
Correct Answer
A
Correct Option:
₦150,000

About This Question

This is Post Utme Covenant University 2020 Economics Question 23. It is one of the objective questions from the 2020 Post Utme Covenant University Economics examination.

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