Neco 2023 Civic Education Question 44
Practice objective / multiple choice question 44 from the 2023 Neco Civic Education examination.
An official can take up to three bribes of \\(N10,000\\) each, sequentially. The probability of being caught after the first bribe is \\(0.05\\), after the second bribe the cumulative probability rises to \\(0.12\\), and after the third bribe the cumulative probability is \\(0.20\\). If caught, the official must pay a fine equal to four times the total amount of bribes received and loses his salary of \\(N250,000\\) per year for two years. Assuming the official takes all three bribes, compute the expected net monetary gain (or loss).
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About This Question
This is Neco 2023 Civic Education Question 44. It is one of the objective questions from the 2023 Neco Civic Education examination.
Difficulty level: Hard .
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