Waec Model Questions Vol1 2025 Commerce Question 37
Practice objective / multiple choice question 37 from the 2025 Waec Model Questions Vol1 Commerce examination.
An insurance company offers fire insurance for a warehouse valued at ₦5,000,000. The basic premium rate is 0.4% of the insured value. The company adds a loading of 25% to cover administrative expenses and a profit margin of 15% on the loaded premium. A discount of 10% is given to policyholders who install an approved fire‑suppression system. If a client has installed the system, what is the final annual premium payable?
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About This Question
This is Waec Model Questions Vol1 2025 Commerce Question 37. It is one of the objective questions from the 2025 Waec Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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