policy.
From the following particulars ascertain the claim to be lodged in respect of consequential loss
Fire occurred on 1-4-2015 and affected sales for 3 months
Sales for 3 months ending 30-6-2015 and 30-6-2016 were * 3,00,000 and 1,00,000
respectively.
The policy was for 9,50,000.
Sales for 12 months ended 31-3-2016 were 3,80,000.
v) Accounts are prepared on 31st December. The net profit for 2015 amounted to 5,00,000
after debiting standing charges of 2,20,000 (all insured), Sales for 2015 were 36,00,000.
vi)
A sum of 7,000 was spent as additional expenses to mitigate the effect of loss.
From the following particulars find out the amount of
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Explanation:
policy.
From the following particulars ascertain the claim to be lodged in respect of consequential loss
Fire occurred on 1-4-2015 and affected sales for 3 months
Sales for 3 months ending 30-6-2015 and 30-6-2016 were * 3,00,000 and 1,00,000
respectively.
The policy was for 9,50,000.
Sales for 12 months ended 31-3-2016 were 3,80,000.
v) Accounts are prepared on 31st December. The net profit for 2015 amounted to 5,00,000
after debiting standing charges of 2,20,000 (all insured), Sales for 2015 were 36,00,000.
vi)
A sum of 7,000 was spent as additional expenses to mitigate the effect of loss.
From the following particulars find out the amount of
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