Question
A dishonest trader gains 5% while purchasing a
refrigerator and again gains 5% while selling it. What is his overall profit percentage?Solution
Let the actual price of refrigerator = ₹100
CP of refrigerator = 100*95/100 = ₹95
SP of refrigerator = 100*105/100 = ₹105
Profit percentage = [(105 – 95)/95]*100 = 10.5%
Process of transferring life insurance to another person is called _____ of policy.
What is a typical generic question in an insurance proposal form?
Which of these changes would typically require an endorsement?
The maximum foreign direct investment (FDI) allowed in Indian insurance companies is:
What is the paid up capital of Life Insurance Corporation of India (LIC)?
The Indian insurance industry is governed by which of the following act ?
In case of ambiguity in policy wording, which rule is applied?
Which of the following principles of Insurance enables the insured to claim the amount from the third party responsible for the loss?
What is NOT a common express condition in an insurance policy?
A seller’s market in which insurance is expensive and in short supply is termed as?
