Question
What does the term "insured" refer to in insurance?Â
Solution
Explanation: The correct answer is B. The person or entity buying the policy. The insured is the individual or entity that purchases the insurance policy.
A man bought a horse and a carriage for Rs. 80,000. He sold the horse at a gain of 10% and the carriage at a loss of 5%. He gained 1% on his whole trans...
Raju purchased 20 dozen bananas at ₹40 per dozen. He sold 8 dozen of it at 10% profit and the remaining 12 dozen at 20% profit. What is his profit% in...
- The cost price of a product is Rs. (10n + 200). It is marked 30% above its cost price and sold after allowing a discount of Rs. (2n + 20). If the profit ea...
'A' purchased an article and sold it to 'B' at 10% profit. 'B' marked it up by 25% above the price at which 'A' has purchased it and then sold it after ...
A jeweler sells a necklace for Rs. 4000 with a 25% profit and a bracelet for Rs. 1200 with a 20% profit. If the necklace is sold for Rs. 3500, what is t...
A person bought an article and sold it at a loss of 20%. If he had bought it at 10% less and sold it for 74 more, h would have gained 30%. Find the prof...
In a certain store, the profit is 320% of the cost. If the cost increases by 25% but the selling price remains constant, approximately what perce...
- Cost price of an item is Rs. (12n + 240). It is marked 50% above its cost price and sold after allowing a discount of Rs. (2n + 40). If the profit earned i...
- A grocer buys 5 kg of sugar at Rs. 180 per kg. While selling, he uses a faulty weight that shows 1150 grams instead of 1000 grams but claims to sell it at ...
- A trader made a profit of 18% on a product, while another trader sold the same product for a 14% profit. If the first trader’s profit was Rs. 32 more tha...
