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      Question

      Goods costing ₹ 2,00,000 were insured for ₹ 150000.

      Out of these goods, 1/3 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

      Goods costing ₹ 2,00,000 were insured for ₹ 150000. Out of these goods, 1/3 are destroyed by fire. The amount of claim with average clause will be: Claim amount = (Actual loss × Insured amount) / Value of goods or property at the date of loss. 66,667*1,50,000/2,00,000 =50,000

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