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WAEC Agriculture 2020 Paper

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Question : 46

Total: 50

If a farmer produces 9 bags of millet at an average cost of D80,000.00 per bag and sells each of the 9 bags at D90,000.00 the profit is?

D10,000.00
D80,000.00
D90,000.00
D170,000.00

Solution:

Concept:

Profit is the difference between total selling revenue and total cost.

Explanation:

Total cost

= 9 \times 80{,}000.00 = 720{,}000.00

.

Total selling revenue

= 9 \times 90{,}000.00 = 810{,}000.00

.

Profit

= 810{,}000.00 - 720{,}000.00 = 90{,}000.00

.

Thus, the farmer makes a profit of D90,000.00.

Answer:

C. D90,000.00

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