Answer: To find the premium for insuring the goods, we need to determine the total amount of insurance that is needed and then calculate the cost of the insurance based on the given rate.
The total amount of insurance needed is equal to the value of the goods in transit, which is K95 480.
To determine the cost of the insurance, we can use the given rate of K682 for every K27 200 worth of goods. We can set up a proportion:
(K682 / K27 200) = (premium / K95 480)
To solve for the premium, we can cross-multiply and simplify:
K682 * K95 480 = K27 200 * premium
premium = (K682 * K95 480) / K27 200
premium = K1 897.12
Therefore, the premium for insuring the goods is K1 897.12.
Explanation: