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WAEC Agricultural Science 2007 Question 55

Question 55

Basic Agricultural Economics

A farmer sold all his harvested maize totalling 260 kg at ₦5.50/kg thereby making a profit of ₦430.00. Calculate the production cost of maize per kg.

  1. A.₦4.05
  2. B.₦3.85
  3. C.₦3.75
  4. D.₦3.65.
Show the answer and explanation

Answer: B (₦3.85)

Explanation

Sales = 260 × 5.50 = ₦1,430; cost = 1,430 − 430 = ₦1,000; 1,000 ÷ 260 ≈ ₦3.85 per kg.