Advertisements
Advertisements
प्रश्न
A property worth ₹4,00,000 is insured with three companies: A, B, and C. The amounts insured with these companies are ₹1,60,000, ₹1,00,000 and ₹1,40,000 respectively. Find the amount recoverable from each company in the event of a loss to the extent of ₹9,000.
उत्तर
Given, Property value = ₹4,00,000
Loss = ₹9,000
Policy value of company A = ₹1,60,000
Policy value of company B = ₹1,00,000
Policy value of company C = ₹1,40,000
Claim = `"Policy value"/"Property value" xx "Loss"`
∴ Claim for company A = `(1,60,000)/(4,00,000) xx 9,000` = ₹3,600
∴ Claim for company B = `(1,00,000)/(4,00,000) xx 9,000` = ₹2,250
∴ Claim for company C = `(1,40,000)/(4,00,000) xx 9,000` = ₹3,150
∴ Amount recoverable from Company A, B and C are ₹3,600, ₹2,250 and ₹3,150 respectively.
APPEARS IN
संबंधित प्रश्न
The Principle of indemnity is not applicable to ____________
a. life insurance
b. marine insurance
c. fire insurance.
Define Life Insurance.
Principles of Insurance?
State Whether the Following Statement Are True Or False (Give Reason)
Principles of utmost good faith is only applicable to life insurance contract.
Answer the following question:
Define insurance. Explain the various principles of insurance.
Explain briefly the principles of insurance with suitable examples?
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.
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%.
Fill in the blank :
An installment of money paid for insurance is called __________.
The value of insured property is called ______.
Fill in the blank :
The proportion of property value to insured value is called __________.
State whether the following is True or False :
Premium is the amount paid to the insurance company every month.
Solve the following :
A 35-year old person takes a policy for ₹1,00,000 for a period of 20 years. The rate of premium is ₹76 and the average rate of bonus is ₹7 per thousand p.a. If he dies after paying 10 annual premiums, what amount will his nominee receive?
Solve the following :
For what amount should a cargo worth ₹25,350 be insured so that in the event of total loss, its value as well as the cost of insurance may be recovered when the rate of premium is 2.5 %.
State whether the following statement is True or False:
Premium is the amount paid to the insurance company every month
State whether the following statement is True or False:
An installment of money paid for insurance is called Premium
______ insurance is not covered by general insurance
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`
