Question

Ex. 3: A car worth Rs.5,40,000 is insured for
Rs.4,50,000. The car is damaged to the extent
of Rs.2,40,000 is an accident. Find the amount
of compensation that can be claimed under the
policy.​

Answer 1

Answer:

1230000

Step-by-step explanation:

A car worth = ₹540000

And insured for = 450000

and damaged for rupee = 240000

Amount of compensation that can be claimed under the policy =₹540000+₹450000+₹240000

=₹ 1230000 ANS

Answer 2

Given:

The worth of the car=Rs.5,40,000

Amount of insurance=Rs.4,50,000.

Amount of damages=Rs.2,40,000

To find:

The amount of compensation that can be claimed

Solution:

The amount of compensation that can be claimed is Rs.2,00,000.

We can find the amount by following the process given below-

We know that the amount that can be claimed depends on the cost of damages, cost of the object, and insurance value.

The amount that can be claimed is the product of the cost of damages and the value of insurance divided by the cost of the car.

Amount of claim= (Cost of damages×Value of insurance)/ Cost of car

On putting the values, we get

Amount of claim=2,40,000×4,50,000/5,40,000

=2,40,000×45/54

=40,000×45/9

=40,000×5

=Rs.2,00,000

Therefore, the amount of compensation that can be claimed is Rs.2,00,000.