| Eke bought a new car for N1.5M. The practice in the insurance industry is to pay 10% of the value of the vehicle as premium for comprehensive cover and 2.5% additional cover for strike, riot and civil commotion. Eke was issued a document and two weeks later, he was issued another document different from the first document issued |
A. N37,000
B. N150,000
C. N155,000
D. N187,500
Correct Answer: Option D
D. N187,500
Explanation
comprehensive cover = 10% + 2.5% of N1.5M
150,000 + 37,500 = 187500
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…
100 Level Department of Business Administration exam questions and detailed answers. Download the answers in document…