Page 35 - 8 Math 4
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Depreciation after one year = 10% of 750000
Depreciation after one year = 10 x 750000
100
= Rs. 75,000
Depreciated price after one year = 750000 - 75,000
= Rs. 675000
2nd premium = 3% of 675000
3
= 100 x 6,75,000
= Rs. 20,250
Depreciation after 2 years = 10% of 675000
10
= 100 x 675000
= 67,500
Depreciated price after 2 years = 675000 - 67,500
= Rs. 607500
Total amount paid as premium = 22,500 + 20,250
= Rs. 42,750
EXERCISE 4.7
1. Usman purchased a car for Rs. 1250000 and insured it for one year at the rate of 4.5%.
Find the annual premium.
2. Hameed got a life insurance policy of Rs.200000. Find the first premium he has to pay
when the rate of annual premium is 5.2% and policy fee is 0.25%.
3. Zahid got a life insurance policy of Rs.500000 at the rate of 5.2% and the policy fee is
0.25%. Calculate half yearly premium at 52% of the annual premium.
4. Usama insured his life for Rs.700000. Find annual premium at 4.5% of the policy amount
with policy fee at the rate of 0.25%. Calculate monthly premium at 9% of the annual
premium.
version: 1.1
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