Question
Monthly income of P is Rs.14000 and his monthly savings
is Rs.8500. If his monthly income is decreased by 30% and monthly expenditure is decreased by 25% then find the approximate percentage decrease in his monthly savings.Solution
Expenditure of P = Rs.(14000 – 8500) = Rs.5500 New Saving = (0.7 × 14000 - 0.75 × 5500) = 9800 - 4125 = Rs.5675 Decrease % in Saving = [(8500 - 5675)/8500] × 100 = 33%
The Life Insurance Business is defined in which section of the Insurance Act, 1938?
A contract between you and an insurance company in which you make a lumpsum paymentor a series of payments and in return obtain regular disbursements be...
General Insurance Corporation of India (GIC) was established in:
What is the primary characteristic of a "soft market" in insurance?
 General insurance public sector association (GIPSA) is an association of four public sector general insurance companies?
Which of the following insurance compensates for the cost of repairing or replacing defective products past the normal warranty period provided by manu...
Third-Party Administrators (TPAs) are primarily involved in:Â
A policy that covers various risks faced by banks, including theft, robbery, and employee dishonesty, is:
The section of the policy that outlines what is NOT covered is called:
If the total premium is Rs. 50,000 and the Limit of Liability is Rs. 20,000,000; what is the rate on line?