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UI Post-UTME Mathematics 2018 (Model questions) Question 41

Question 41

Ratio, Percentages and Rates

In a fund-raising lottery, 42% of the money collected is given as cash prizes. There are eight cash prizes altogether. The first price winner gets ₦3,500, the second gets ₦3,100, the third gets ₦2,700 and so on.
How much price money is there altogether?

  1. A.₦16,800
  2. B.₦15,500
  3. C.₦16,400
  4. D.₦17,000
Show the answer and explanation

Answer: A (₦16,800)

Explanation

S₈ = 8/2 × (2 × 3,500 + 7 × (−400)) = 4 × 4,200 = ₦16,800.