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
44

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
9

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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