Question

Three insurance companies, A, B, and C, agree to jointly insure a cargo ship for $42,000,000. They allocate the premiums received in the ratio 8:3:10 respectively. How will the annual premium of $546,000 be distributed to the three insurers? To A: $0.00 Round to the nearest cent To B: $0.00 Round to the nearest cent To C: Round to the nearest cent

Answer 1

Here I'm using ratios.here ratio of three companies given that is there contribution . Here gievn ratio of each company divided by total sum of ratio multiply by total premium to find each ditribution amount.answers are below thank you.

* solutions. Gillen A,B,C be three insurance companies. these premiums received in the ratio 8:3:10 respectivel to gillen annual premium is $546,000 will be distributed to A,B,C. for these totalsum of satło is 8 +3 +10=21. & distribution of these premium is as below. 88546, oro = 208,000 2:6 x 546,000 = 885426 A sets $ 208,000./ TO BE x 546,000 - 3X 526.00 = 78,000 B gets T$ 18,00 TO C: 10 x 546 000 - fox 5416.om 2260,000 c gets $280,000 lox546,000 shoo0o = 220 oro 10 x 21 2 / Thank you