Neco 2017 Geography Question 13
Practice objective / multiple choice question 13 from the 2017 Neco Geography examination.
A community is exposed to annual flooding with probability \(0.12\). If a flood occurs, the average damage cost is \(\text{₦}2.5\) million. A mitigation project costs \(\text{₦}150{,}000\) upfront and reduces the flood probability to \(0.05\). Assuming the project's cost is amortised over 10 years, should the community invest in the mitigation? Compute the expected annual loss before and after mitigation and state the net annual saving (if any).
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About This Question
This is Neco 2017 Geography Question 13. It is one of the objective questions from the 2017 Neco Geography examination.
Difficulty level: Hard .
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