Correct Option: D. N95 million
Detailed Explanation:
To determine the amount of money in the account of the Stardom Cooperative Society, we need to analyze the information provided and the context of the question. The question asks for the total amount discovered by the board, and the options provided give us a range of possible amounts.
- Understanding the Options:
- A. Over N50 million: This option suggests that the amount is greater than N50 million but does not specify how much more. It is vague and does not provide a concrete figure.
- B. N200 million: This is a very high figure compared to the other options. If the board discovered this amount, it would likely be a significant event, and there would be more context or evidence to support such a high figure.
- C. N45 million: This amount is below N50 million and is relatively low compared to the other options. It may not reflect the expected financial status of a cooperative society that is likely to have a larger pool of funds.
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D. N95 million: This option is specific and falls within a reasonable range for a cooperative society. It is a substantial amount that suggests a healthy financial status.
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Why D is Correct:
- The board's discovery of N95 million indicates a well-managed cooperative society with a significant amount of funds. This amount is substantial enough to suggest that the society is active and possibly has a good number of members contributing to its funds.
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The specificity of N95 million makes it a more credible figure compared to the vague "over N50 million" or the excessively high N200 million.
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Why Other Options are Incorrect or Weaker:
- Option A (Over N50 million): While this option is technically possible, it lacks specificity. It does not provide a clear figure, making it less useful for understanding the exact financial status of the cooperative society.
- Option B (N200 million): This figure is likely exaggerated for a cooperative society unless there is specific context indicating extraordinary growth or contributions. Without additional information, this option seems unrealistic.
- Option C (N45 million): This amount is lower than what might be expected for a cooperative society, especially if it has been operating for some time. It does not reflect a robust financial position and is less likely to be the correct answer.
Common Pitfalls:
- Assuming Vague Options are Correct: Students may be tempted to choose options that sound plausible but lack specificity. Always look for the most concrete and reasonable figure.
- Overestimating Values: Itβs easy to assume that larger amounts are better, but they must be realistic within the context of the question.
- Ignoring Context: Always consider the nature of the organization (in this case, a cooperative society) and what is typical for such entities.
Revision Summary:
- The correct amount in the Stardom Cooperative Society's account is N95 million (Option D).
- Specificity in financial figures is crucial for accuracy; vague options are less reliable.
- High figures like N200 million may be unrealistic without supporting context.
- Understanding the typical financial status of cooperative societies helps in evaluating the options presented.