Waec Model Questions Vol1 2020 Commerce Question 23
Practice objective / multiple choice question 23 from the 2020 Waec Model Questions Vol1 Commerce examination.
A fire‑insurance policy is taken out on a building valued at ₦12,000,000. The basic premium rate is 0.25% of the insured value. Because the building is in a high‑risk area, a loading of 15% is added to the basic premium. A government tax of 5% is then applied to the loaded premium. The client negotiates a discount of 10% on the total amount after tax. What is the final amount the client must pay?
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About This Question
This is Waec Model Questions Vol1 2020 Commerce Question 23. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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