O-LevelCommerceInsurance7100/12 · Oct/Nov 2017 · Q301 Mark

Javed's shop was valued at $120000 when fire insurance was arranged. In each of the next three years the market value of the shop increased by $12000. Javed has not told the insurance company about this increase. If the shop is completely destroyed by fire, what is the maximum amount that the insurance company will pay out?

A$120000

B$132000

C$144000

D$156000

✓ Correct answer

A: $120000

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Topic: Insurance, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2017 Paper 1 Variant 2, question 30.

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