📝 African States Problems and they economically under developed

Q1. Nigeria earned about 80 % of its annual income from oil. If the world price of oil falls by 30 %, approximately how much will Nigeria’s total income change, assuming production volume stays constant?

💡 Difficulty: easy | ✅ Correct: A

Q2. Country Z exports coffee (60 % of export value) and cocoa (40 %). World coffee prices drop 20 % while cocoa prices rise 5 %. What is the net effect on export earnings?

💡 Difficulty: medium | ✅ Correct: B

Q3. A newly independent African state borrowed $200 million at 5 % simple interest for 5 years to fund export expansion. What total amount must be repaid at the end of the term?

💡 Difficulty: hard | ✅ Correct: B