Waec Model Questions Vol1 2023 Commerce Question 48
Practice objective / multiple choice question 48 from the 2023 Waec Model Questions Vol1 Commerce examination.
An insurance company calculates a gross premium by adding a loading of 20% to the base premium. A policy tax of 5% is then charged on the gross premium. For early payment the company offers a 10% discount on the total (gross premium plus tax). If the final payable premium is ₦11,340, what is the base premium?
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About This Question
This is Waec Model Questions Vol1 2023 Commerce Question 48. It is one of the objective questions from the 2023 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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