Mr. Rahman is insured completely for Tk. 50,000 of damages to his machinery. For any damage above Tk. 50,000, the insurance company will pay Tk. 50,000 plus 20% of the rest of the damage amount. For a recent accident, Mr. Rahman was paid Tk. 56,000 by the insurance company. What was the total amount of the damage estimated?
Created: 6 years ago |
Updated: 2 years ago
best des
Minimum damage ≡ 50000 TK
Payment above minimum damage ≡ 56000 - 50000 = 6000 TK
Here, 20% of the rest of the damage ≡ 6000 TK
So, total or 100% of the rest of the damage ≡ 6000 x 100 / 20 = 30000 TK
So, total damage amount ≡ 50000 + 30000 = 80000 TK.
Md Azizur Rahman
Founder of Satt
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