What is the amount to be paid by the insurance company?

By: |Published on: Dec 20|Categories: Commerce JAMB| 0 comments

Mr. Olatude took up a fire insurance on a property valued at N1000 and the amount insured is N 800. If the insurance was taking with the clause ‘with average‘, What is the amount to be paid by the insurance company?

A. N320
B. N420
C. N460
D. N560

Correct Answer:

Option A – N320

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