Q.A shop is valued at ₹3,60,000 for 75% of its value. If the rate of premium is 0.9%, find the premium paid by the owner of the shop. Also, find the agents commission if the agent gets commission at 15% of the premium.

Insured value $=75\%$ of $₹3{,}60{,}000 = ₹2{,}70{,}000$; premium at $0.9\% = ₹2430$; agent's commission at $15\%$ of premium $= ₹364.50$.

Step 1 — Policy (insured) value. The shop is insured for $75\%$ of its value of $₹3{,}60{,}000$:

$\text{Policy value} = \frac{75}{100}\times 3{,}60{,}000 = ₹2{,}70{,}000.$

Step 2 — Premium. Premium is charged at $0.9\%$ of the policy value:

$\text{Premium} = \frac{0.9}{100}\times 2{,}70{,}000 = 0.009\times 2{,}70{,}000 = ₹2430.$

…