Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This is a question from the course 'Principles of Insurance'. Please answer the question appropriately. A partial (or careless) answer will be rated negatively. But,

image text in transcribed

This is a question from the course 'Principles of Insurance'. Please answer the question appropriately. A partial (or careless) answer will be rated negatively. But, a sincere and complete answer would be rated positive instantly. Thank you.

2. (a) A Cargo consisting of 100000 bags was insured for TK. 8000000. But 28000 bags of cargo were damaged and would realize TK. 30.00 bag. The following expenses were also incurred by the insured: Sales commission-2% Survey fee-TK. 1000.00 You are required to: Prepare a particular average or partial loss statement assuming that goods would have realized TK. 89.00 per bag in their undamaged condition and the policy is valued. 02 ii. Prepare a particular average or partial loss statement assuming that goods would have realized TK. 77.00 per bag in their undamaged condition and the policy is unvalued. 03

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

Accountability Of Local Authorities In England And Wales, 1831-1935 Volume 1

Authors: Hugh Coombs, J. R. Edwards

1st Edition

1138965758, 9781138965751

More Books

Students also viewed these Accounting questions

Question

What do you think is likely to be Liams problem? Discuss.

Answered: 1 week ago

Question

What laws were passed because of domestic violence?

Answered: 1 week ago