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प्रश्न
Solve the following :
A property valued at ₹7,00,000 is insured to the extent of ₹5,60,000 at `(5/8)^"th"` % less 20%. . Calculate the saving made in the premium.Find the amount of loss that the owner must bear, including premium, if the property is damaged to the extent of 40 % of its value.
उत्तर
Given, Property value = ₹7,00,000,
Policy value = ₹5,60,000,
Rate of perimum = `(5)/(8)`% less 20%
Now, for the rate of perimu = `(5)/(8)`%
Amount of perimum = `(5)/(8)`% of policy value
= `(5)/(8) xx (1)/(100) xx 5,60,000`
= ₹3,500
For the rate of perimum
= `(5)/(8)`% less 20%
= `(5/8 - 20% "of" 5/8)`
= `(5/8 - 20/100 xx 5/8)`%
= `(5/8 - 1/8)`%
= `(4)/(8)`%
= `(1)/(2)`%
Amount of perimum = `(1)/(2)`% of policy value
= `(1)/(2) xx (1)/(100) xx 5,60,000`
= ₹2,800
∴ Savings made in the premium
= premium on `(5)/(8)`% – premium on `(1)/(2)`%
= 3,500 – 2,800
= ₹700
∴ Savings made in the premium is ₹700.
Now, the property is damaged to the extent of 40% of its value.
∴ Value of damaged property (loss)
= 40% of property value
= `(40)/(100) xx 7,00,000` = ₹2,80,000
Since, Claim = `"Policy value"/"Property value" xx "Loss"`
= `(5,60,000)/(7,00,000) xx 2,80,000`
∴ Claim = ₹2,24,000
∴ Loss borne by the owner including premium
= (Loss – Claim) + Premium on `(1)/(2)`%
= (2,80,000 – 2,24,000) + 2,800
= 56,000 + 2,800
= ₹58,800
∴ Loss borne by the owner including the premium is ₹58,800.
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संबंधित प्रश्न
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Fire Insurance and Marine Insurance
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Explain briefly the principles of insurance with suitable examples?
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Choose the correct alternative :
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Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called ______.
Fill in the blank :
General insurance covers all risks except __________.
The value of insured property is called ______.
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Solve the following :
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State whether the following statement is True or False:
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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`
