Exercise 2.11. Find the premium on a property worth Rs. 25,00,000 at 3% if (i) the property is fully insured, (ii) the property is insured for 80% of its value.2. A shop is valued at Rs. 3,60,000 for 75% of its value. If the rate of premium is 0.9%, find the premium paid by the owner of the shop. Also, find the agents commission if the agent gets commission at 15% of the premium.3. A person insures his office valued at Rs. 5,00,000 for 80% of its value. Find the rate of premium if he pays Rs.13,000 as premium. Also. find agent's commission at 11%4. A building is insured for 75% of its value. The annual premium at 0.70 per cent amounts to Rs.2625. If the building is damaged to the extent of 60% due to fire, how much can be claimed under the policy?5. A stock worth Rs.7,00,000 was insured for Rs.4,50,000. Fire burnt stock worth Rs.3,00,000 completely and damaged the remaining stock to the extent of 75 % of its value. What amount can be claimed under the policy?6. A cargo of rice was insured at 0.625 % to cover 80% of its value. The premium paid was Rs.5250. 1f the price of rice is Rs.21 per kg. find the quantity of rice (in kg) in the cargo. 7. 6000 articles costing Rs.200 per dozen were insured against fire for Rs. 2,40,000. If 20% of the articles were burnt and 7200 of the remaining articles were damaged to the extent of 80% of their value, find the amount that can be claimed under the policy.8. The rate of premium is 2% and other expenses are 0.075%. A cargo worth Rs.3,50,100 is to be insured so that all its value and the cost of insurance will be recovered in the event of total loss.9. A property worth Rs. 4.00.000 is insured with three companies. A. B. and C. The amounts insured with these companies are Rs.1,60,000, Rs.1,00,000 and Rs.1,40,000 respectively. Find the amount recoverable from each company in the event of a loss to the extent of Rs. 9.000.10. A car valued at Rs.8,00,000 is insured for Rs.5,00,000. The rate of premium is 5% less 20%. How much will the owner bear including the premium if value of the car is reduced to 60 % of its original value.11. A shop and a godown worth Rs.1,00,000 and Rs.2,00,000 respectively were insured through an agent who was paid 12% of the total premium. If the shop was insured for 80% and the godown for 60% of their respective values, find the agent's commission, given that the rate of premium was 0.80% less 20% .12. The rate of premium on a policy of Rs. 1,00,000 is Rs.56 per thousand per annum.A rebate of Rs.0.75 per thousand is permit- ted if the premium is paid annually. Findthe net amount of premium payable if the policy holder pays the premium annually.13. A warehouse valued at Rs.40,000 contains goods worth Rs.240,000. The warehouse is insured against fire for Rs.16,000 and the goods to the extent of 90% of their value. Goods worth Rs.80,000 are completely destroyed, while the remaining goods are destroyed to 80% of their value due to a fire. The damage to the warehouse is to the extent of Rs.8,000. Find the total amount that can be claimed.14. A person takes a life policy for Rs.2,00,000 for a period of 20 years. He pays premium for 10 years during which bonus was declared at an average rate of Rs.20 per year per thousand. Find the paid up value of the policy if he discontinues paying premium after 10 years.