EPFO EO/AO • General Ability Test • 2017 • Q.61
InsuranceMedium
From the information given below, calculate the sum insurable:
| Date of fire | 01.03.2016 |
| Turnover from 01.03.2015 to 29.02.2016 | ₹88,00,000 |
| Agreed GP ratio | 20% |
| Special circumstances clause | Provided for the increase of turnover by 10% |
Syllabus Connection
Principles of Insurance: Utmost good faith (Uberrimae Fidei), insurable interest, indemnity, subrogation, contribution, proximate cause, mitigation of loss. (APFC)
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