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WAEC 2022 · Paper 2 · Q7

  1. (a)

    A television set purchased for ₦65,000.00 depreciates by 14%14\% per year. Find the value of the television at the end of the third year.

  2. (b)

    A trader bought 240 oranges at 3 for GH¢ 1.00 and sold them at GH¢ 0.50 each. Calculate the: (i) total cost; (ii) total sales, of the oranges; (iii) percentage profit.

    Separate values with commas, e.g. 3, −2

Worked solution (try it first)

(a)

  1. Each year the value falls by 14%14\% of what it was at the start of that year, so it's multiplied by 0.86.
  2. After 3 years: 65 000×0.863=65 000×0.63605665\,000 \times 0.86^3 = 65\,000 \times 0.636056
    ≈₦41,343.64\approx ₦41,343.64.

(b)(i)

  1. 240 oranges at 3 for GH¢ 1.00 cost 2403=\frac{240}{3} = GH¢ 80.00.

(ii)

  1. Sold at GH¢ 0.50 each: 240×0.50=240 \times 0.50 = GH¢ 120.00.

(iii)

  1. Profit =120−80=40= 120 - 80 = 40, and 4080×100%=50%\frac{40}{80} \times 100\% = 50\%.

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