The price of a car 500000 it was insured to 80% of its price the car was damaged completely in an accident and the insurance company paid 90% of the insurance. What is the difference between the price of the car and the amount of insurance received?
Answers
If price of the car is Rs. 500000 which is insured to 80% & an insurance company pays 90% after an accident of the car then the difference between the price of the car and the amount of insurance received is Rs. 1,40,000.
Step-by-step explanation:
The price of car = Rs. 5,00,000
The car was insured to 80% of its price
∴ The amount of insurance of the car
= 80% of 5,00,000
= 0.80 * 5,00,000
= Rs. 4,00,000
Now, according to the question,
When the car got damaged completely in an accident, the insurance company gave 90% amount of insurance (which is 80% of total price of the car), therefore,
= 90% of 4,00,000
= 0.9 * 4,00,000
= Rs. 3,60,000
Thus,
The difference between the price of the car and the amount of insurance received is,
= Rs. 5,00,000 – Rs. 3,60,000
= Rs. 1,40,000
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