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प्रश्न
A shop and a godown worth ₹1,00,000 and ₹2,00,000 respectively were insured through an agent who was paid 12% of the total premium. If the shop was insured for 80% and the godown for 60% of their respective values, find the agent's commission, given that the rate of premium was 0.80% less 20%.
उत्तर
Given, Value of shop (property value) = ₹1,00,000.
Value of godown (property value) = ₹2,00,000
Rate of commission = 12%
Shop was insured for 80% of its value.
Policy value
= 80% of its property value
= `(80)/(100) xx 1,00,000`
= ₹80,000
Godown was insured for 60% of its value.
∴ Policy value of godown
= 60% of its property value
= `(60)/(100) xx 2,00,000`
= ₹1,20,000
Total policy value = Policy value of shop + Policy value of godown
= 80,000 + 1,20,000
= 2,00,000
Rate of premium is 0.80% less 20%
i.e., 0.80 0.20% of 0.80 = 0.80 0.16 = 0.64%
∴ Amount of perimum
= 0.64% of total policy value
= `(0.64)/(100) xx 2,00,000`
= ₹1,280
Commission of agent
= 12% of amount of perimum
= `(12)/(100) xx 1,280` = 153.6
∴ Agent's commission is ₹153.6.
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Property value = ₹ 12,50,000
Rate of premium, r = ₹ 3%
If property is fully insured, the policy value is same as property value therefore policy value = `square`
Premium = `"r"/100 xx "policy value"`
= `square/100 xx 12,50,000`
= `square`
Policy value = ₹ 80,000
Period of policy = 20 years
Amount of money paid in 10 years = `square`
Annualized average rate per bonus = ₹ 20 per thousand per year
For one year, bonus = `square/1000 xx 80,000`
= ₹ 1,600
Bonus for 10 years = `10 xx square`
= ₹ 16,000
Total amount after 10 years = `square + 16000`
= ₹ `square`
Property value = ₹ 12,50,000
Rate of premium, r = ₹ 3%
If property is 80% insured
Policy value = 80% of its property value
= `square/100 xx 12,50,000`
= ₹ 10,00,000
Premium = `square/100 xx 10,00,000`
= ₹ `square`
