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If I-phone company is looking to offer insurance for the phones and estimates that 1 million Iphone users will buy their insurance and they will
If I-phone company is looking to offer insurance for the phones and estimates that 1 million Iphone users will buy their insurance and they will charge 250 taka per phone for a year. They will pay 50000 taka for the loss of the phone (like stolen, fire, lost) and will pay 10000 taka for damage. If the company estimates 2500 people will claim full loss and 5000 customers will ask for partial damage. If I-phone company deposits the money at 8% interest for six months and paid 5 crore taka for underwriting then what will be their profit or loss?
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