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

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?
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  • A N320
  • B N420
  • C N460
  • D N560
Correct Answer: Option A
Explanation:

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