Math, asked by wifelife354, 9 months ago

Mr C. S. Chand took a Health insurance policy for his family. Sum insured for self and spouse is 5,00,000 each, 2,00,000 for his two children. However insurance company offered 10% discount on the total sum insured, and calculated the premium amount @ 12.5% thereafter. If the GST is @ 18% on health insurance premium, find total amount including GST he has to pay to the insurance company to buy the policy

Answers

Answered by knjroopa

Step-by-step explanation:

Given Mr C. S. Chand took a Health insurance policy for his family. Sum insured for self and spouse is 5,00,000 each, 2,00,000 for his two children . However insurance company offered 10% discount on the total sum insured, and calculated the premium amount @ 12.5% thereafter. If the GST is @ 18% on health insurance premium, find total amount including GST he has to pay to the insurance company to buy the policy

Given Sum insured for self and spouse is 5,00,000 and 2,00,000 for his two children.
So it will be 2 (5,00,000 + 2,00,000)
= 2 x 7,00,000
= 14,00,000
Now insurance company offers 10% discount on total sum insured.
So 10% of 14,00,000 will be 10/100 x 14,00,000
= 1,40,000
Now sum will be 14,00,000 – 1,40,000 = 12,60,000.
The premium amount for this is 12.5%
So 12.5 / 100 x 12,60,000
= 1,57,500
Also GST is 18$ on the premium amount
Therefore GST = 18% of 1,57,500
= 18 / 100 x 1,57,500
= Rs 28,350
Therefore total amount to be paid will be Rs 28,350

Reference link will be

https://brainly.in/question/17876028

Answered by meenasamy1969

Step-by-step explanation:

Total insurance amt 1400000

discount 10%=140000

amount 1260000.

premium 12.5%. = 157500

gst 18%. =. 28350

total amount including gst 1,85,850

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