Neco 2022 Commerce Question 29
Practice objective / multiple choice question 29 from the 2022 Neco Commerce examination.
An insurance company offers a motor insurance policy with a base premium of \(\text{₦}45,000\). For high‑risk drivers a loading of 12\% is added, then a government tax of 5\% is applied to the loaded premium. If the policy is purchased online, a promotional discount of 8\% is given on the amount after tax. What is the final premium payable by a high‑risk driver who buys the policy online (in naira, rounded to the nearest kobo)?
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About This Question
This is Neco 2022 Commerce Question 29. It is one of the objective questions from the 2022 Neco Commerce examination.
Difficulty level: Medium .
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