Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can anyone answer ? with the steps 79. A cottage is valued at 100,000 and is covered by two fire insurance policies, one with a

can anyone answer ? with the steps
image text in transcribed
79. A cottage is valued at 100,000 and is covered by two fire insurance policies, one with a sum insured of 50,000 and the other with a sum insured of 100,000. Under the principle of contribution, what maximum payment will the insured receive from the first policy if a fire causes damage costing f60,000 to repair? 100 value A. 20,000 B. 25,000 C. 30,000 D. 50,000 Loss 60 rooo

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International financial management

Authors: Jeff Madura

13th edition

978-1337099738, 1337099732, 9781337515894, 1337515892, 978-1337587211

More Books

Students also viewed these Finance questions