Question
Neha and Pooja started a business by investing in the
ratio 5 : 4, respectively. After 6 months, Neha increased her investment by 40%, whereas Pooja withdrew 25% of her investment. If at the end of 18 months, the profit earned by Neha was Rs. 18,000 more than that by Pooja, then find the total profit earned by the business.Solution
Let investments be Rs. ‘5x’ and Rs. ‘4x’. Ratio of profit shares: = {(5x × 6) + (5x × 7/5 × 12)} : {(4x × 6) + (4x × 3/4 × 12)} = (30x + 84x) : (24x + 36x) = 114x : 60x = 19 : 10 Let total profit = 29y ATQ: 19y - 10y = 18000 Or, y = 2000 Total profit = 29 × 2000 = Rs. 58,000
What is the primary method to calculate the pure premium for a group of insured?
Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
In which year, the Actuaries Act was passed by Indian government?
A form of liability insurance providing coverage for negligent acts and omissions such as workers compensation, errors and omissions, fidelity, crime, ...
Surf Excel, which is a 110+ year-old global brand, is a subsidiary of which company?
A section of the risk-based capital formula calculating requirements for reserves and premiums is termed as?
Which of the following insurance is mainly used for leased cars?
Which among the following is not a characteristic of ethical behaviour?Â
Which of the following is not a Insurance Intermediary?Â
Which of the following principles of Insurance enables the insured to claim the amount from the third party responsible for the loss?