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प्रश्न
Find the premium on a property worth ₹ 25,00,000 at 3% if (i) the property is fully insured, (ii) the property is insured for 80% of its value.
उत्तर
Given, Property value = ₹ 25,00,000,
Rate of premium = 3%
(i) When a property is fully insured,
Here, Property value = Policy value
∴ Policy value = ₹ 25,00,000
Amount of premium = 3% of policy value
= `(3)/(100) xx 25,00,000`
= ₹ 75,000
∴ Amount of premium is ₹ 75,000.
(ii) When a property is insured to 80% of its value.
Here, Policy value = 80% of property value
= `(80)/(100) xx 25, 00, 000`
= ₹ 20,00,000
Amount of premium = 3% of policy value
= `(3)/(100) xx 20,00,000`
= ₹ 60, 000
∴ Amount of premium is ₹ 60,000.
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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`
