A trader wants to have his wares insured The rate of premium is 7 5% The value of - Maths -

Question

A trader wants to have his wares insured The rate of premium is
7 5% The value of wares is Rs 37000/- For what sum should the wares
be insured so that in case of loss the value of the ware & also
the premium may be recovered?

Manbar Singh · Accepted Answer

We have,value of wares = Rs 37000Rate of premium = 7
5 %Now, insured sum = 37000 + 7
5% of 37000 = 37000 + 7
5100×37000 = 37000 + 2775 =Rs 39775

A trader wants to have his wares insured. The rate of premium is 7.5%. The value of wares is Rs.37000/-. For what sum should the wares be insured so that in case of loss the value of the ware & also the premium may be recovered?