Waec Model Questions Vol1 2020 Commerce Question 37
Practice objective / multiple choice question 37 from the 2020 Waec Model Questions Vol1 Commerce examination.
An insurance company calculates a motor‑insurance premium as 2 % of the car's market value. It then adds a loading of 25 % to cover administrative costs and finally gives a no‑claim discount of 10 % on the loaded amount. If the final premium payable by the policyholder is ₦44,000, what is the market value of the car (rounded to the nearest naira)?
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About This Question
This is Waec Model Questions Vol1 2020 Commerce Question 37. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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