Neco 2017 Civic Education Question 40

Practice objective / multiple choice question 40 from the 2017 Neco Civic Education examination.

Neco 2017 Civic Education Objective / Multiple Choice Hard Difficulty
Question 40 NECO • 2017 • CIVIC_EDUCATION • objective

A public project is allocated a budget of \(\text{₦}500{,}000{,}000\). Due to corruption, \(8\%\) of the budget is siphoned off as kickbacks before procurement. The contractor then inflates the remaining cost by \(15\%\) and pays a bribe equal to \(5\%\) of the inflated amount to a local official. Calculate the total amount lost to corruption (kickbacks plus bribe) and express this loss as a percentage of the original budget, rounded to two decimal places.

Answer Options

A. \text{₦}68,000,000 (13.60\% of the original budget)
Correct Answer B. \text{₦}66,450,000 (13.29\% of the original budget)
C. \text{₦}65,500,000 (13.10\% of the original budget)
D. \text{₦}66,000,000 (13.20\% of the original budget)
Correct Answer
B
Correct Option:
\text{₦}66,450,000 (13.29\% of the original budget)

About This Question

This is Neco 2017 Civic Education Question 40. It is one of the objective questions from the 2017 Neco Civic Education examination.

Difficulty level: Hard .

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