Neco 2024 Government Question 21
Practice objective / multiple choice question 21 from the 2024 Neco Government examination.
A local government council plans to install water pumps. The fixed set‑up cost is ₦2,000. Each pump incurs a variable cost of ₦1,200 and an annual maintenance cost of ₦200. The first pump generates an annual revenue of ₦3,000, but for each additional pump the revenue per pump falls by (5\%) because of market saturation. Assuming the council installs an integer number of pumps, determine the number of pumps that will give the maximum annual net profit and state that maximum profit (in ₦).
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About This Question
This is Neco 2024 Government Question 21. It is one of the objective questions from the 2024 Neco Government examination.
Difficulty level: Hard .
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