Question
A person purchased diesel at Rs. 4, Rs. 10 and Rs. 15
per litre in three successive years. If he spent Rs. 4800 each year on diesel, then find the approximate average cost (per litre) paid by him in the given three successive years.Solution
According to the question, Quantity of diesel purchased by him in 1 year = (4800/4) = 1200 litres Quantity of oil purchased in 2 year = (4800/10) = 480 litres Quantity of diesel purchased in 3 year = (4800/15) = 320 litres Total quantity of oil purchased in give three years = 1200 + 480 + 320 = 2000 litres Total amount spent on diesel in given three years = 4800 × 3 = Rs. 14400 Required average = 14400/2000 = 7.2 ~ Rs. 7.2
What is the impact of inflation on premium calculations?
In case of a motor accident, the first step to be taken by the insured is to:
Which part of the policy includes details such as policy duration and limits of liability?
The section of the policy that outlines what is NOT covered is called:
A provision added to a home owners insurance policy that automatically adjusts the coverage limit on the dwelling each time the policy is renewed to ref...
The part of the policy that is specific to each insured individual is:
In case of ambiguity in policy wording, which rule is applied?
Which of the following is an optional feature that can be added to a policy?
A person who makes an insurance claim is called?
Which of the following countries has been ranked first in the rating of passports 'Passport Index 2022' published recently by Arton Capital?
