Gce Model Questions Vol1 2024 Commerce Question 7
Practice objective / multiple choice question 7 from the 2024 Gce Model Questions Vol1 Commerce examination.
A motor insurance policy has a base premium of \(£500\). The driver has a 3‑year no‑claims record, giving a discount of 20% for each claim‑free year, up to a maximum of 5 years. Because the driver is under 25, a surcharge of 15% is added to the discounted premium. The driver also opts for optional fire coverage, which adds 12% of the premium after the surcharge. What is the final annual premium the driver must pay?
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About This Question
This is Gce Model Questions Vol1 2024 Commerce Question 7. It is one of the objective questions from the 2024 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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