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3 January, 05:55

if you've just recovered from prostate cancer within the last few years, an insurance company might require you to pay a 20% extra premium on your net premium for 3 years. Calculate the gross monthly premium during this 3 years, if the monthly gross premium after the 3 years is $100 and the monthly net premium among this $100 is $70

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  1. 3 January, 06:05
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    Gross premium = $100

    Monthly Net premium = $70

    Therefore 70 x 12 x 3 = 2,520

    = 20% of 2, 520

    2,520/100 x 20/1

    GMP (Gross Monthly Premium) = $540
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