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How much commission did an agent receive on the sale of a

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How much commission did an agent receive on the sale of a [#permalink] New post 22 May 2004, 07:23
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How much commission did an agent receive on the sale of a 3-year policy insuring a school building against fire?

(1) The school building had a market value of $90,000 and the agent's commission was 18 percent of each yearly premium.
(2) The rate charged for the policy was $0.38 for each $100 of fire insurance coverage.
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 [#permalink] New post 22 May 2004, 08:20
combined i guess so (c)

Not sure though.
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 [#permalink] New post 25 May 2004, 10:52
These are wierd questions.
If the building is insured for what it is worth now then C is sufficient. If How much it is insured is not known then the answer is E. Because it is possible that the policy may just cover $50000 worth of damage. I am sure GMAT will never have such questions.
  [#permalink] 25 May 2004, 10:52
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