Mary pays 500 euro per annum for fire insurance at a rate of 5.60euro per 1000 euro property valuation. What is the value of her property

Question

What is the value of marys property

Answer 1

The value of Mary's property would be $89,286:

500 euros annual premium divided by 5.60 euro per thousand = 89.286

89.286 times 5.60 per thousand rate = 500 euros annual premium.

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