CommerceInsuranceJAMB
Mr Bello insures goods worth ₦800,000 for only ₦400,000 and suffers a loss of ₦200,000. Under the average clause he receives
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Answer: C. ₦100,000
Claim = 400,000/800,000 × 200,000 = ₦100,000 because he was under-insured by half.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.