By what amount is the life insurance sold in Italy through agents more/less than the life insurance sold in Spain through brokers and agents?

Less by

$

10 million

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More by

$

30 million

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Less by

$

30 million

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More by

$

20 million

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Solution

The correct option is C Less by $$$ 30 million
Value of life insurance sold through agents in Italy
$= \frac{2500 \times 14}{100} = $ 350 m i l l i o n$
Value of life insurance sold through agents and brokers in Spain = (14+5)% of 2000 $= \frac{2000 \times 19}{100} = $ 380 m i l l i o n$
Hence, the value of insurance sold in Italy is less than that of similar sale in Spain by $$$ 30 million.

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