alleryStart learning →Rs 24,000 premium paid on 1 July covers twelve months. Insurance charged for the year ending 31 March is
ARs 24,000
BRs 18,000
CRs 6,000
DRs 12,000
Answer & Solution
Correct answer: B. Rs 18,000
Nine of the twelve months fall in the year, so 24,000 x 9/12 = Rs 18,000.
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