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
\(\frac{\text{Amount insured x total actual loss}} {\text{Total actual value of property}}\)
By this formula the compensation will be
Amount insured = N30,000
Amount loss = N40,000
Actual Value = N100,000
=\(\frac{30,000 \times 40, 000}{100,000}\)
= \(\frac{1200000000}{100,000}\) = 12,000
Which of the following does not belong to the industry? ...
An invoice can be described as a ...
Any activity that changes raw materials into consumer or industrial goods is ...
Trade fairs in Nigeria are organized by ...
The stock Exchange helps to provide capital for of industrial project because it ...
Commercialization of government corporations brings about an increase in the level of? ...
Management of a business involves the development of ideas for the ...
The balance of payments of countries is ...
Small-scale retailers continue to exist in spite of the dominance of large firms because they ...