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Question

Goods costing ₹ 1,00,000 were insured for ₹ 50,000. Out of these goods, ¾ are destroyed by fire. The amount of claim with average clause will be:

A ₹ 37,500 Correct Answer Incorrect Answer
B ₹ 50,000 Correct Answer Incorrect Answer
C ₹ 75,000 Correct Answer Incorrect Answer
D ₹ 1, 00, 000 Correct Answer Incorrect Answer
E ₹ 25,000 Correct Answer Incorrect Answer

Solution

Claim amount = (Actual loss × Insured amount) / Value of goods or property at the date of loss. 75000*50000/100000 =37500

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