Question
X and Y initiated a partnership, with investments of Rs.
5000 and Rs. 6000 respectively. Six months into the partnership, Z joined by contributing Rs. 4500. After 8 months from the start, Y withdrew his entire investment. If the total profit at the end of the year was Rs. 13500, calculate Y's share of the profit.Solution
Ratio of profit share of X, Y and Z = (5000 ×12):(6000 × 8):(4500 × 6) = 20:16:9 Profit share of Y = 16/45 × 13500 = Rs. 4800
In which year, the Actuaries Act was passed by Indian government?
A survey to determine a property’s insurable value, or the amount of a loss is termed as?
Which of the following company is not a foreign insurance company?
A policy that can be cancelled or have the premiums raised by the insurer on a specific anniversary date, subject to certain reasons written into the po...
One of the methods of reducing insurance cost of an insured is __________.
What is the purpose of a "warranty" in an insurance policy?
An excess is another word for:
In private motor insurance, separate rates apply for vehicles below and above:
Which of the following principles of Insurance denotes insurance of same subject matter with two different companies or with the same company under two ...
Which of the following terms is NOT associated with insurance?
Relevant for Exams:
