Question
In the context of PMFBY, what does the term "Sum
Insured" refer to? Read the passage below and answer the following questions based on the passage ( Q no 15 to 18) Crop insurance in India plays a crucial role in safeguarding the livelihoods of millions of farmers who are vulnerable to the unpredictabilities of agriculture. As agriculture forms the backbone of the Indian economy, providing employment to nearly half of the population, ensuring its stability is vital. Crop insurance has emerged as an essential tool to protect farmers from financial losses caused by natural disasters, erratic weather patterns, pest infestations, and other unforeseen events that impact agricultural productivity. In a country where farming largely depends on the monsoon, the importance of crop insurance becomes even more pronounced. Indian farmers, particularly small and marginal ones, often bear the brunt of climate change and unpredictable weather, including droughts, floods, and cyclones, which can destroy entire crops. When crops fail due to these factors, farmers are left without income, often pushing them into severe debt and poverty. Crop insurance helps mitigate this risk by compensating farmers for their losses, ensuring they can recover and continue farming. Moreover, crop insurance encourages farmers to adopt modern agricultural techniques and make investments in their farms. When farmers know they have a safety net, they are more likely to take the risk of planting higher-yield crops, using better seeds, and employing improved irrigation techniques. This not only boosts individual productivity but also contributes to national food security by improving overall agricultural output.Solution
The Sum Insured is the maximum amount that an insurance company will pay to the farmer in case of a covered loss.
Sushil sold an item at 6% profit. Had he sold it for Rs. 5,760 less, he would have incurred a loss of 10%. Find the cost price of the item.
By selling two articles for Rs.800, a person gains the cost price of 5 articles. The profit percent is.
A bought a laptop for Rs.15000. He spent 15% of the amount that he had paid for buying it for its repair. He then sold the laptop to B and earned a prof...
A shopkeeper bought two articles for Rs. 350 each. If he sold one of them at 50% profit and the other at 10% loss, then find the difference between the ...
A table is marked (z+5)% above its cost price and a discount of 35% was given on it while selling. If the cost price of the table is Rs. 1485 more than ...
The cost price of 30 apples is Rs.120. If it is sold at 25% profit, then how many apples will be sold for Rs.75?
An article is sold at a profit of 40%. If the purchasing price triples and the selling price decreases by 20%, what will be the percentage of profit or ...
A dishonest seller, at the time of selling and purchasing uses weight 22% less and 30% more per kg respectively. Find the approx. percent profit earned ...
Kabir bought a TV for Rs. 2800 and spent some money on installation. He marked it up by 25%, gave a Rs. 320 discount, and earned a 15% profit. Find the ...
A and B invest in a business in the ratio 4 : 5. After 10 months B leaves the business after withdrawing his investment. In the first year the business...
