ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Out of 400 houses, each valued at Rs. 20, 000, on an average 4 houses get burnt every year resulting in a combined loss of Rs. 80, 000. What should be the annual contribution of each house owner to make good this loss?
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Rs.100/-
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Rs.200/-
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Rs.80/-
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Rs.400/-
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Explanation:
Detailed explanation-1: -Of 400 houses costing each Rs. 20, 000 if on an average 4 houses are damaged in fire causing a total loss of Rs. 80, 000, Rs. 200 should be the annual contribution of each house owner.
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