Mathematics

A headmaster contributes 7% of his income into a fund and his wife contributes 4%…

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
  • E.
    N440
Correct Answer: Option C
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