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
Verified Correct Answer: C.
Step-by-Step Mathematical Solution
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
Source: Myschool Past Questions Archive (Record #22878)