A headmaster contributes 7% of his income into a fund and his wife contributes 4%
MATHEMATICS
WAEC 1991
A headmaster contributes 7% of his income into a fund and his wife contributes 4% of her income. If the husband earns N5,500 per annum (p.a) and the wife earns N4,000 (P.a), find the sum of their annual contribution to the fund
- A. N1045
- B. N605
- C. N545
- D. N490
Correct Answer: C. N545
Explanation
Husband contributions = \(\frac{7}{100}\) x N5,500 = N385
Wife contribution = \(\frac{4}{100}\) x N4,000 = N160
Sum of their Annual contribution = N385 + N160 = N545
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