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प्रश्न
A person takes a life policy for ₹2,00,000 for a period of 20 years. He pays premium for 10 years during which bonus was declared at an average rate of ₹20 per year per thousand. Find the paid up value of the policy if he discontinues paying premium after 10 years.
उत्तर
Given, Policy value = ₹2,00,000
Period of policy = 20 years
∴ Premium per year = `"Policy Value"/"Period of policy"`
= `(2,00,000)/(20)`
= ₹10,000
But, the person pays premium for 10 years.
∴ Premium paid by the person
= 10,000 x 10
= ₹1,00,000
Rate of bonus = ₹20 per year for thousand,
Bonus for 1 year = `(20)/(1,000) xx 2,00,000`
= ₹4,000
∴ Bonus for 10 years
= 4,000 x 10
= ₹40,000
∴ Paid up vallue of the policy
= Perimum paid of the person + Bonus for 10 years
= 1,00,000 + 40,000
= ₹1,40,000
∴ Paid up value of the policy is ₹1,40,000 if the person discontinues paying the premium after 10 years.
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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`
