Waec Model Questions Vol1 2023 Commerce Question 14
Practice objective / multiple choice question 14 from the 2023 Waec Model Questions Vol1 Commerce examination.
An insurance company estimates the expected annual loss per motor policy to be ₦45,000. To cover administrative expenses and profit, it adds a loading of 25 % to the expected loss. After loading, a tax of 5 % is levied on the premium. Calculate the final premium that a policyholder must pay, rounding to the nearest naira.
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 14. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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