Question

20) The Estimated Stock at RS.72,000, Gross destroyed by fire Rs. 54,000 and Amount of policy Rs.63,000. There was an average clause in the policy. Calculate Insurance Claim. a) 18000 b) 47,250 c) 61714 d) 84000​

Answer 1

Answer:

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Answer 2

Insurance Claim $=$ $Policy\;amount\times\frac{Actual\;loss\;of\;stock}{Stock\;on\;date\;of\;fire}$

Explanation:

Given:

Estimated Stock $=72000$

Gross destroyed by fire $=54000$

Amount of policy $=63000$

We know,

Insurance Claim $=$ $Amount\;of\;policy\times\frac{Gross\;destroyed\;by\;fire}{Estimated\;Stock}$

$=63000\times\frac{54000}{72000}$

$=47250$

Therefore, Insurance claim $=47250$