Neco Model Questions Vol1 2023 Commerce Question 15
Practice objective / multiple choice question 15 from the 2023 Neco Model Questions Vol1 Commerce examination.
An insurance company estimates the expected annual loss from fire for a small shop to be \(\text{₦}120{,}000\). The company adds a loading of 25% to cover administrative expenses and then adds a profit margin of 10% on the loaded premium. What annual premium should the company charge the shop? Give your answer in naira.
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About This Question
This is Neco Model Questions Vol1 2023 Commerce Question 15. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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