Neco 2024 Agricultural Science Question 38
Practice objective / multiple choice question 38 from the 2024 Neco Agricultural Science examination.
A forest stand's timber volume per hectare after \(t\) years is modelled by \(V(t)=0.5 t^{2}+10 t\) (cubic metres). The stand is harvested at age \(T\) years and immediately replanted. Timber sells for \(\text{₦}200\) per cubic metre and the re‑planting cost is \(\text{₦}5,000\) per hectare. With an annual discount rate of \(8\%\), the land expectation value (LEV) for a rotation of length \(T\) is \(\displaystyle \text{LEV}= \frac{200\,V(T)-5,000}{(1.08)^{T}-1}\). Find the integer rotation age \(T\) (in years) that maximises LEV and give the corresponding LEV (rounded to the nearest naira).
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About This Question
This is Neco 2024 Agricultural Science Question 38. It is one of the objective questions from the 2024 Neco Agricultural Science examination.
Difficulty level: Hard .
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