Question

The Estimated Stock at RS.72,000, Gross destroyed by fire Rs. 54,000 and Amount of policy Rs.63,000. There was an average clause in the policy. Calculate Insurance Claim.
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Answer 1

Answer:

average =60,000 please like

Answer 2

The Insurance claim will be ₹47250.

Explanation:

Given: The Estimated Stock at RS.72,000

           Gross destroyed by fire Rs. 54,000 and

            Amount of policy Rs.63,000.

To Find: Insurance claim.

Solution:

• The question says that the insurance of stock is subject to an average clause.
• In the Average clause, the amount of claim is paid proportionately if the stock on the date of fire is more than the insurance taken for the stock.
• Here, the stock on the date of fire is more than the amount of policy, the average clause applicable.
• Insurance claim according to the average clause = ₹63000*54000/72000  = ₹47250.
• So, the insurance claim applicable will be ₹47250.