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1. Mr. Rahman is insured completely for Tk.50000 of damages to his machinery. For any damage above Tk.50000 the insurance co. will pay Tk.50000 plus 20% of the rest of the damage amount. For a recent accident, Mr. Rahman was paid Tk.56000 by the insurance co. what was the total estimated damage?
- A. Tk.30000
- B. Tk.30000
- C. Tk.30000
- D. Tk.30000
Answer: Option D
Explanation:
Damage insured = Tk. 50000
Damage paid by company = Tk. 56000
Damage extra paid = 6000
Now, 20% = 6000
10% = ( 6000×100)/20 = 30000
Total estimated damage = Tk ( 50, 000 + 30, 000) = Tk. 80, 000
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