Question

A trader took out a fire policy containing an average clause covering his stock for Rs. 15,000.
His practice was to base his selling price at cost plus 33:13%.
He closes his books on 30th June every year. On 31st March, 2001, a fire occurred at his
premises and destroyed his stock. The salvaged stock was Rs. 6,000. During the period of 9
months preceding the fire, his purchases amounted to Rs. 61,000 and sales to Rs. 84,000. His
stock at 1st July, 2000 was valued at Rs. 20,000,
You are required to prepare a statement showing the amount of claim.​

Answer 1

Answer:

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Answer 2

Explanation:

Answer is :

The actual amount of claim is Rs.10,000