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    Question

    Goods costing ₹ 2,00,000 were insured for ₹ 150000.

    Out of these goods, 1/3 are destroyed by fire. The amount of claim with average clause will be:
    A ₹ 37,500. Correct Answer Incorrect Answer
    B ₹ 50,000 Correct Answer Incorrect Answer
    C ₹ 75,000 Correct Answer Incorrect Answer
    D ₹ 1,00,000 Correct Answer Incorrect Answer
    E ₹ 25,000 Correct Answer Incorrect Answer

    Solution

    Goods costing ₹ 2,00,000 were insured for ₹ 150000. Out of these goods, 1/3 are destroyed by fire. The amount of claim with average clause will be: Claim amount = (Actual loss × Insured amount) / Value of goods or property at the date of loss. 66,667*1,50,000/2,00,000 =50,000

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