Post Utme Lautech 2022 Commerce Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Lautech Commerce examination.

Post Utme Lautech 2022 Commerce Objective / Multiple Choice
Question 10 POST_UTME_LAUTECH • 2022 • COMMERCE • objective

A firm is considering two different types of insurance policies for its employees: life insurance and health insurance. The firm's HR manager has estimated the following costs for each policy: Life insurance: ₦10,000 per employee per year, Health insurance: ₦5,000 per employee per year. If the firm has 100 employees, what is the total cost of each policy?

Answer Options

Correct Answer A. Life insurance: ₦1,000,000, Health insurance: ₦500,000
B. Life insurance: ₦500,000, Health insurance: ₦1,000,000
C. Life insurance: ₦1,500,000, Health insurance: ₦1,500,000
D. Life insurance: ₦2,000,000, Health insurance: ₦2,000,000
Correct Answer
A
Correct Option:
Life insurance: ₦1,000,000, Health insurance: ₦500,000

About This Question

This is Post Utme Lautech 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Lautech Commerce examination.

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