Question
The value of A’s car is depreciating by 10% every year
whereas the value of his house is appreciating by 8% each year as compared to the previous year. If in 2018, the value of his car and house was Rs. 600000 and Rs. 1000000, respectively then find the sum of the values of his car and house together in 2020.Solution
Total sum of values = 600000 × 0.90 × 0.90 + 1000000 × 1.08 × 1.08 = 486000 + 1166400 = Rs. 1652400
What is the significance of "rate on line" in insurance pricing?
What does the term "insured" refer to in insurance?
What is the difference between a "condition" and a "warranty" in an insurance policy?
Any such transaction, in which any property is transferred in the name of one person and payment is made by another person is known as?
Under motor insurance, ambulances are classified under which class?
Intangible assets cover non-physical assets that cover ________________.
The process of determining the cost of an insurance policy based on the actual loss experience determined as an adjustment to the initial premium paymen...
The period during which the owner of a deferred annuity makes payments to build up assets is called?
The General Insurance Business in India was nationalized in which year?
Coverage for property taken or destroyed by breaking and entering the insured’s premises, burglary or theft, forgery or counterfeiting, fraud, kidnap ...
