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A shop is valued at ₹3,60,000 for 75% of its value. If the rate of premium is 0.9%, find the premium paid by the owner of the shop. Also, find the agents commission if the agent gets commission - Mathematics and Statistics

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प्रश्न

A shop is valued at ₹3,60,000 for 75% of its value. If the rate of premium is 0.9%, find the premium paid by the owner of the shop. Also, find the agents commission if the agent gets commission at 15% of the premium.

योग

उत्तर

Given, Property value = ₹3,60,000,
Rate of premium = 0.9%
Since the shop is insured for 75% of its value,
∴ Policy Value = 75% of property value

∴ Policy value = `(75)/(100) xx3,60,000` = ₹2,70,000

Amount of  Premium = 0.9% of policy value

= `(0.9)/(100) xx 2,70,000`
Also, agent's rate of commission is 15% of the Premium

∴ Agent's commission = `(15)/(100) xx 2,430` = ₹364.5

∴ Premium paid by owner of the shop is ₹2,430 and agent's commission is ₹364.5.

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अध्याय 2: Insurance and Annuity - Exercise 2.1 [पृष्ठ २०]

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बालभारती Mathematics and Statistics 2 (Commerce) [English] 12 Standard HSC Maharashtra State Board
अध्याय 2 Insurance and Annuity
Exercise 2.1 | Q 2 | पृष्ठ २०

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