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Question
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`
Solution
Policy value = ₹ 80,000
Period of policy = 20 years
Amount of money paid in 10 years = 8,00,000
Annualized average rate per bonus = ₹ 20 per thousand per year
For one year, bonus = `20/1000 xx 80,000`
= ₹ 1,600
Bonus for 10 years = `10 xx 1,600`
= ₹ 16,000
Total amount after 10 years = 8,00,000 + 16000
= ₹ 8,16,000
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