Question

If sum assured is Rs.1,50,000/- and if number of premiums actually paid are 7 and number of premiums actually payable are 10, what is the reduced sum assured?

a.

Rs.1,50,000

b.

Rs.1,05,000

c.

Rs.50,000

d.

Rs.1,00,000

Answer: (b).Rs.1,05,000 Explanation:‘t’ is number of premiums paid and ‘n’ is the number of premiums payable. t= 7; n= 10, then the reduced sum assured is Rs. 1,05,000. i.e. Rs.1,50,000 x 7/10 = Rs.1,05,000/-

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Q. If sum assured is Rs.1,50,000/- and if number of premiums actually paid are 7 and number of premiums actually payable are 10, what is the reduced sum assured?

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