Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Trending News

Promoted
?
? asked in Business & FinanceInsurance · 9 years ago

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

1 Answer

Relevance
  • Tom Z
    Lv 7
    9 years ago
    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%

    Source(s): ...
Still have questions? Get your answers by asking now.