Mr Olatude took up a fire insurance on a property valued at N1000 and the…

Commerce JAMB 2000

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?

  • N320 checkmark
  • N420
  • N460
  • N560

The correct answer is: A

Explanation

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