Waec Model Questions Vol1 2017 Commerce Question 24
Practice objective / multiple choice question 24 from the 2017 Waec Model Questions Vol1 Commerce examination.
A motor insurance policy has a basic premium of ₦45,000. The insurer adds a loading of 12% for a high‑risk area and a 5% administrative charge on the premium after loading. A government tax of 2.5% is then applied on the amount after the administrative charge. The policyholder is eligible for a no‑claim bonus of 10% on the basic premium (calculated before loading). What is the final amount the policyholder must pay (rounded to the nearest naira)?
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About This Question
This is Waec Model Questions Vol1 2017 Commerce Question 24. It is one of the objective questions from the 2017 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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