Question

Q20) Stock worth Rs.375000 was insured for Rs.225000. Stock worth Rs.150000 was burnt completely due to fire and the balance was reduced to 75% of its value. What sum can be claimed under the policy? a) Rs. 161250 b) Rs. 191250 c) 200000 d) 165400.​

Answer 1

Solution :-

given that,

→ Stock value = Rs.375000

→ Policy value = Rs.225000

now,

→ Stock burnt = Rs.150000

so,

→ Remaining stock = 375000 - 150000 = Rs.225000

given that, the balance was reduced to 75% of its value. { 75% reduced means 25% left. }

then

→ Reduced amount = 25% of Rs.225000 = (25 * 225000)/100 = Rs.56250

therefore,

→ Total loss occured = Reduced amount + Stock burnt = 56250 + 150000 = Rs.206250

hence,

→ Sum claimed = (Policy value * Total loss)/stock value = (225000 * 206250) / 375000 = Rs.123750 (Ans.)

Learn more :-

Kishore and Keerthi started a project with their respectiv...

https://brainly.in/question/38797288

A, B and C started a business in which B and Care sleeping partners. They invested Rs. 4000, 3000 and 7000 respectively ...

https://brainly.in/question/30162041

Answer 2

Given :  Stock worth Rs.375000 was insured for Rs.225000.

Stock worth Rs.150000 was burnt completely due to fire and the balance was reduced to 75% of its value.

To Find : What sum can be claimed under the policy

Solution:

Stock worth Rs.375000  

Burnt = 150000  Rs

Balance = 375000 - 150000  = 225000  Rs

Balance was reduced to 75% of its value.

Hence remaining value = (75/100)225000 = 168750 Rs

So Total Loss = Original Value - Remaining Value

= 375000 - 168750

= 206250  Rs

Claim  =  (policy value / Property value ) * loss

=> claim =  (225000/ 375000 ) *  206250

=> claim = (3/ 5 ) *  206250

=> claim = 3 *  41250

=> claim = 123750  Rs

None of the given option matches:

Claim of  Rs.191250 will match if question is  balance was reduced by 75%

Stock worth Rs.375000  

Burnt loss = 150000  Rs

Balance = 375000 - 150000  = 225000  Rs

Balance was reduced by 75% of its value.

Value reduction loss = (75/100)225000 = 168750 Rs

Total loss = 150000 +  168750 =  318750  Rs

Claim  =  (policy value / Property value ) * loss

=> claim =  (225000/ 375000 ) *  318750

=> claim = (3/ 5 ) *  318750

=> claim = 3 *  63750

=> claim = 191250  Rs

Learn More:

Haiquao Wei is insured by an indemnity insurance plan that ...

https://brainly.in/question/15836027?tbs_match=3

an insurance company will sell ₱500,000.00 one-year term leg ...

https://brainly.in/question/40837051