If it is known that 12.5% of the total life insurance sold in the countries is listed for term insurance, then what is the approximate value of non-term insurance sold in these countries for the year 2002?

Solution

Total sales of the countries (in million dollars)

= $$2,500+2,000+15,000+10,000+1,000+20,000+30,000 = 80,500$$

Approx value of non term insurance = $$\frac{87.5}{100}\times80,500$$

= $$\frac{7}{8}\times80500=70400$$ million dollars

=> Ans - (C)

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