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Insurance/Percentage
The price of a car is Rs. 3,25,000. It was insured for 85% of its price. The car was completely damaged in an accident, and the insurance company paid 90% of the insured amount. What was the difference between the price of the car and the amount received?
Explanation and memory cue
The car's price is Rs. 3,25,000. It was insured for 85% of its price, which is Rs. 2,76,250. The insurance company paid 90% of the insured amount, which is Rs. 2,48,625. The difference between the car's price and the amount received is Rs. 3,25,000 - Rs. 2,48,625 = Rs. 76,375. This matches option C, so the correct answer is C.