Question

An insurer has outstanding claims at the start of the year ₹50 lakh. During the year, claims paid total ₹3 crore. At year-end, the estimated outstanding claims are ₹70 lakh. Calculate the claims incurred for the year.

A ₹3.40 crore
B ₹3.20 crore
C ₹3.50 crore
D ₹2.80 crore
E ₹3.00 crore
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