The price of an Auto is Rs. 5,30,000. It was
insured to 72% of its price. The Auto was
damaged completely in an accident and the
insurance company paid 78% of the
insurance. What was the difference between
the price of the Auto and the amount
received
Answers
Solution :-
→ Price of auto = Rs.530000
→ Insured price = 72% of price of auto = (72 * 530000)/100 = Rs.381600
now,
→ after accident company paid = 78% of insurance price = (78 * 381600)/100 = Rs.297648
then,
→ The difference between the price of the Auto and the amount received = 530000 - 297648 = Rs. 232352 (Ans.)
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What was the amount received?
Given:
Price of auto: ₹ 5,30,000
Insurance of auto: 72% of ₹ 5,30,000
Insurance paid by the company after the accident of the auto: 78% of the insurance.
To Calculate:
Difference between the price of the auto and the amount received.
Solution:
Let us first calculate the amount for which the auto was insured.
= 72% of ₹ 5,30,000
= (72/100) * (5,30,000)
= ₹ 3,81,600
Insurance amount paid by the company: 78% of the insurance = 78% of ₹ 3,81,600
= (78/100) * (3,81,600)
= ₹ 2,97,648
Difference between the price of the auto and the amount received:
₹ 5,30,000 - ₹ 2,97,648
= ₹ 2,32,352
Final Answer:
The difference between the price of the auto and the amount received is ₹ 2,32,352/-