N15,000
N20,000
N12,000
N25,000
Correct answer is C
Since the policy is with average clause the formula used in calculating his compensation is
Amount insured x total actual lossTotal actual value of property
By this formula the compensation will be
Amount insured = N30,000
Amount loss = N40,000
Actual Value = N100,000
=30,000×40,000100,000
= 1200000000100,000 = 12,000
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