How much Increase/Decrease in premium of insurance co. percentage?

Can anyone guide me that an Insurance company charged premium to us as follows:

a. In 2011, Our goods cost was Rs.2,100,000, Premium they charged Rs.4,000
b. In 2012, Our goods cost is Rs.4,300,000, Premium they charged Rs.5,500

Please let me know how much increase/Decrease in their charges in %. Please also write formula how to calculate.

I need this very much and i will very much thankful and appreciate for their guidance and devoting time.

Thanks

Tom Z2012-09-26T07:03:59Z

Favorite Answer

In 2011 the cost per thousand was Rs 0.0019 rounded off. Calculated as rate 4 divided by amount of insurance 2100.

In 2012 the cost per thousand was Rs 0.0013 rounded off. Calculate as rate 5.5 divided by amount of insurance 4300.

Therefore the 2012 rate was a decrease.

The percentage decrease is calculated as follows: .

.0019 - .0013 = .0006
.0006 / .0019 = .3158 or 31.58%

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