Neco Model Questions Vol1 2021 Government Question 6

A local government council receives three sources of revenue: property rates, a federal allocation, and market fees. The total assessed property value is \(\text{₦}800,000,000\) and the property rate is \(1.5\%\) of this assessed value. The federal allocation equals a fixed \(\text{₦}12,000,000\) plus \(0.8\%\) of the council's population, which is \(250,000\) people. The council's total annual revenue is \(\text{₦}45,000,000\). Market fees are charged at \(2\%\) of the combined annual turnover of four markets. The turnovers of the four markets form an arithmetic progression, and the total turnover is five times the sum of the two smallest markets. What is the annual turnover of the largest market (in naira)?