Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the
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JAMB 2020
Mr. Olatunde took up a fire insurance on a property valued at ₦1000 and the amount insured is ₦80. Thee ₦400. If the property caught fire causing a loss of insurance was taken with the clause with average what is the amount to be paid bý the insurance company?
- A. ₦420
- B. ₦320
- C. ₦460
- D. ₦560
Correct Answer: B. ₦320
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