Advertisements
Advertisements
प्रश्न
Solve the following :
A shopkeeper insures his shop and godown valued at ₹5,00,000 and ₹10,00,000 respectively for 80 % of their values. If the rate of premium is 8 %, find the total annual premium.
Advertisements
उत्तर
Given, Property value of the shop = ₹5,00,000 Property value of the godown = ₹10,00,000
Since shopkeeper insures shop for 80% and godown for 80%,
∴ Policy value of shop = 80% of its property value
= `(80)/(100) xx 5,00,000`
= ₹4,00,000
Policy vale of godown
= 80% of its property value
= `(80)/(100) xx 10,00,000` = ₹8,00,000
Rate of premium is 8% for the shop as well as for godown.
∴ Amount of premium for the shop
= 8% of its policy value
= `(8)/(100) xx 4,00,000` = ₹32,000
∴ Amount of premium for the shop
= 8% of its policy value
= `(8)/(100) xx 8,00,000` = ₹64,000
∴ Total premium = amount of premium for the shop + amount of premium for the godown
= 32,000 + 64,000
= ₹96,000
∴ Total premium payable by the shopkeeper is ` 96,000.
APPEARS IN
संबंधित प्रश्न
A person invested ₹ 5,000 every year in finance company that offered him interest compounded at 10% p.a., what is the amount accumulated after 4 years? [Given (1.1)4 = 1.4641]
A person wants to create a fund of ₹ 6,96,150 after 4 years at the time of his retirement. He decides to invest a fixed amount at the end of every year in a bank that offers him interest of 10% p.a. compounded annually. What amount should he invest every year? [Given (1.1)4 = 1.4641]
Find the rate of interest compounded annually if an annuity immediate at ₹20,000 per year amounts to ₹2,60,000 in 3 years.
Find the accumulated value of annuity due of ₹1,000 p.a. for 3 years at 10% p.a. compounded annually. [Given (1.1)3 = 1.331]
For an annuity immediate paid for 3 years with interest compounded at 10% p.a., the present value is ₹24,000. What will be the accumulated value after 3 years? [Given (1.1)3 = 1.331]
A person sets up a sinking fund in order to have ₹ 1,00,000 after 10 years. What amount should be deposited bi-annually in the account that pays him 5% p.a. compounded semi-annually? [Given (1.025)20 = 1.675]
Choose the correct alternative :
Amount of money today which is equal to series of payments in future is called
In an ordinary annuity, payments or receipts occur at ______.
Fill in the blank :
The intervening time between payment of two successive installments is called as ___________.
Fill in the blank :
An annuity where payments continue forever is called __________.
Fill in the blank :
If payments of an annuity fall due at the end of every period, the series is called annuity __________.
State whether the following is True or False:
Annuity certain begins on a fixed date and ends when an event happens.
State whether the following is True or False :
Annuity contingent begins and ends on certain fixed dates.
Solve the following :
Find the least number of years for which an annuity of ₹3,000 per annum must run in order that its amount exceeds ₹60,000 at 10% compounded annually. [(1.1)11 = 2.8531, (1.1)12 = 3.1384]
Solve the following :
After how many years would an annuity due of ₹3,000 p.a. accumulated ₹19,324.80 at 20% p. a. compounded yearly? [Given (1.2)4 = 2.0736]
Multiple choice questions:
In annuity calculations, the interest is usually taken as ______
Multiple choice questions:
If for an immediate annuity r = 10% p.a., P = ₹ 12,679.46 and A = ₹ 18,564, then the amount of each annuity paid is ______
State whether the following statement is True or False:
Annuity contingent begins and ends on certain fixed dates
The present value of an immediate annuity for 4 years at 10% p.a. compounded annually is ₹ 23,400. It’s accumulated value after 4 years would be ₹ ______
An annuity in which each payment is made at the end of period is called ______
If payments of an annuity fall due at the beginning of every period, the series is called annuity ______
A company decides to set aside a certain sum at the end of each year to create a sinking fund, which should amount to ₹ 4 lakhs in 4 years at 10% p.a. Find the amount to be set aside each year?
[Given (1.1)4 = 1.4641]
For annuity due,
C = ₹ 20,000, n = 3, I = 0.1, (1.1)–3 = 0.7513
Therefore, P = `square/0.1 xx [1 - (1 + 0.1)^square]`
= 2,00,000 [1 – 0.7513]
= ₹ `square`
The future amount, A = ₹ 10,00,000
Period, n = 20, r = 5%, (1.025)20 = 1.675
A = `"C"/"I" [(1 + "i")^"n" - 1]`
I = `5/200` = `square` as interest is calculated semi-annually
A = 10,00,000 = `"C"/"I" [(1 + "i")^"n" - 1]`
10,00,000 = `"C"/0.025 [(1 + 0.025)^square - 1]`
= `"C"/0.025 [1.675 - 1]`
10,00,000 = `("C" xx 0.675)/0.025`
C = ₹ `square`
For an annuity due, C = ₹ 2000, rate = 16% p.a. compounded quarterly for 1 year
∴ Rate of interest per quarter = `square/4` = 4
⇒ r = 4%
⇒ i = `square/100 = 4/100` = 0.04
n = Number of quarters
= 4 × 1
= `square`
⇒ P' = `(C(1 + i))/i [1 - (1 + i)^-n]`
⇒ P' = `(square(1 + square))/0.04 [1 - (square + 0.04)^-square]`
= `(2000(square))/square [1 - (square)^-4]`
= 50,000`(square)`[1 – 0.8548]
= ₹ 7,550.40
