Question

A property worth ₹ 4,00,000 is insured with three companies: A, B, and C. The amounts insured with these companies are ₹ 1,60,000, ₹ 1,00,000 and ₹1,40,000 respectively. Find the amount recoverable from each company in the event of a loss to the extent of ₹ 9,000.

Answer 1

Given, Property value = ₹ 4,00,000 
Loss = ₹ 9,000 
Policy value of company A = ₹ 1,60,000 
Policy value of company B = ₹ 1,00,000 
Policy value of company C = ₹ 1,40,000

Claim = `"Policy value"/"Property value" xx "Loss"`

∴ Claim for company A = `(1,60,000)/(4,00,000) xx 9,000` = ₹ 3,600

∴ Claim for company B = `(1,00,000)/(4,00,000) xx 9,000` = ₹ 2,250

∴ Claim for company C = `(1,40,000)/(4,00,000) xx 9,000` = ₹ 3,150

∴ Amount recoverable from Company A, B and C are ₹ 3,600, ₹ 2,250 and ₹ 3,150 respectively.