Sum Insured under fire reinstatement policy = 100 lakhs.
Premium rate= 2.25 per mille (Can someone explain me what this mille is)
Calculate: Premium chargeable at beginning of the policy.
Calculate refund if policy was canceled after 6 months (180 days)
(Note: Short period rate for 6 months= 70%)


Please help me find the answers with the explanation. This is a question from licentiate exam in May 2007.

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