premium charged for a policy is 1000 for 3 months which gives an annual income of 40000 of what percentage of the annual cover is the premium charged in a year
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Answered by
7
Answer:
2%
Step-by-step explanation:
Answered by
2
Answer:
Step-by-step explanation:
premium charged for a policy is 1000 for 3 months
1000 is quarterly paid, Payment will take 4 times in a year.
Annually premium = 1000 * 4 = 4000
which gives an annual income of 40000
The percentage of the annual cover is the premium charged in a year =
4000 /40000 * 100
= 10 %
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