20. United Steel Co. Ltd. took out a profit insurance policy for ₹1,25,000 with a period of indemnity of six months.
On 1st April, 2020 a fire broke out and normal business could not be restored before the end of four months. From the following details, find out the claim to be lodged with the Insurance Company:

| Particulars | Amount (₹) |
|---|---|
| Sales for 2019 | 600000 |
| Net Profit for 2019 | 65009 |
| Standing Charges for 2019 (all insured) | 85000 |
| Sales from 1st April, 2020 to 31st March, 2020 | 800000 |
| Sales from 1st April, 2019 to 31st July, 2020 | 100000 |
| Sales from 1st April, 2019 to 31st July, 2019 | 250000 |

There is a clear 10% upward trend in business.

Calculate the Gross Profit Rate:
The Gross Profit (G.P.) Rate is calculated using the formula:
[tex]\text{Gross Profit Rate} = \frac{\text{Net Profit} + \text{Standing Charges}}{\text{Sales}} \times 100\%[/tex]
Substituting the values:
[tex]\text{Gross Profit Rate} = \frac{65009 + 85000}{600000} \times 100\% = \frac{150009}{600000} \times 100\% = 25.0015\%[/tex]
Calculate the Short Sales during the indemnity period:
Normal Sales (adjusted for trend) for the indemnity period:
Sales from April 1, 2019, to July 31, 2019 were ₹250,000. Adjusting for a 10% upward trend:
[tex]\text{Adjusted Normal Sales} = 250,000 \times 110\% = 275,000[/tex]
Actual Sales for the corresponding period in 2020:
Actual sales from April 1, 2020, to July 31, 2020 were ₹100,000.
Short Sales = Normal Sales (adjusted for trend) - Actual Sales
[tex]\text{Short Sales} = 275,000 - 100,000 = 175,000[/tex]
Calculate the Loss of Gross Profit:
The Loss of G.P. is calculated as follows:
[tex]\text{Loss of G.P.} = \text{Short Sales} \times \frac{\text{Gross Profit Rate}}{100}[/tex]
[tex]\text{Loss of G.P.} = 175,000 \times \frac{25.0015}{100} = 43,752.625[/tex]
Calculate the claim:
Since the Loss of G.P. is less than the insured amount, the claim will be equal to the Loss of G.P.
Therefore, the claim to be lodged with the insurance company is ₹43,752.63.