Question

Stock on the date of fire Rs.150000 and Salvage
Value is Rs. 29000. Calculate Actual loss .
Answer:
O Rs. 150000
O Rs. 179000
O Rs. 129000
O Rs. 121000​

Answer 1

Answer:

Option Rs. 121000

Loss of Stock = Rs. 1,21,000

Explanation:

Given :

Stock on the date of fire = Rs.1,50,000

Salvage Value = Rs. 29,000

To find :

Calculate Actual loss

Solution :

As given In the question :

Stock on the date of fire = Rs.1,50,000

Salvage Value = Rs. 29,000

Amount of loss of Stock is calculated as under :

Value of Stock on the date of fire 1,50,000

Less : Value of Salvaged Stock 29,000

Loss of Stock 1,21,000

Amount of loss of Stock 1,21,000

★ Additional Information :

Claim subject to average clause :

Amount of Policy / Value of Stock ×

Actual loss of Stock

$\sf{\dfrac{Amount \: of \: Policy }{Value \: of \: Stock} \: \times \:Actual \: loss \: of \: Stock}$

∴ Loss of Stock = Rs. 1,21,000