costs.
9. A fire broke out on 1st July, 2016, in the factory of A Ltd. and business was practically disorganised upto
₹
30th November, 2016. From the books of account, the following information was extracted :
3,00,000
Actual turnover from 1st July, 2016 to 30th November, 2016
10,00.000
Turnover from 1st July, 2015 to 30th November, 2015
4,50.000
Net Profits for the last financial year
3.00.000
Insured standing charges for the last financial year
Turnover for the last financial year
25,00.000
Turnover for the year ending 30th June, 2016
27,50,000
Total standing charges for the year 2015
3.60,000
The company incurred additional expenses amounting to 45,000 which reduced the loss in turnover.
There was also a saving during the indeminity period of 12,430.
The company holds a 'loss of profit' policy for 8,25,000 having an indemnity period for 6 months.
There had been a considerable increase in trade and it had been agreed that an adjustment of 20% to be
made in respect of upward trend in turnover.
Compute claim under 'loss of profit insurance'.
[C.U.B.Com.(H)]
a
To Dolina
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