Question

a shop and a godown worth rs.1,00,000 and rs.2,00,000 respectively were insured through and 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%.​

Answer 1

Given,

Value of shop (property value) = ₹1,00,000.

Shop was insured for 80% of its value.

Godown was insured for 60% of its value.

∴ Agent's commission is ₹153.6.