Gce Model Questions Vol1 2021 Civic Education Question 10
Practice objective / multiple choice question 10 from the 2021 Gce Model Questions Vol1 Civic Education examination.
A public official can accept a bribe of \(\text{₦}500{,}000\). If accepted, there is a \(30\%\) chance of being caught, which results in a fine equal to twice the bribe amount (\(\text{₦}1{,}000{,}000\)). If not caught, the official must pay a "tax" of \(10\%\) of the bribe to a corrupt network. The net amount after tax can be invested at \(8\%\) compound interest per annum for three years; the detection risk is realised only after the three‑year period. Compute the expected monetary gain after three years (rounded to the nearest thousand naira) if the official accepts the bribe, and state whether the official should accept it (compare with a gain of \(0\) if the bribe is refused).
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About This Question
This is Gce Model Questions Vol1 2021 Civic Education Question 10. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Civic Education examination.
Difficulty level: Hard .
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