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A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?
- a)Wagering contract
- b)Contingent contract
- c)Valid contract
- d)Quasi contract
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A says to B that he will give Rs. 500 to him if it rains and if doesn&...
't rain, B will give him Rs. 100. The probability of rain is 0.3. Find the expected value of the amount that A will receive.
The expected value of the amount that A will receive can be calculated as follows:
If it rains, A will give Rs. 500 to B. The probability of rain is 0.3, so the expected value of this event is:
E(rain) = 0.3 x (-500) = -150
If it doesn't rain, B will give Rs. 100 to A. The probability of not raining is 0.7, so the expected value of this event is:
E(not rain) = 0.7 x 100 = 70
Therefore, the expected value of the amount that A will receive is:
E(total) = E(rain) + E(not rain) = -150 + 70 = -80
This means that A can expect to lose Rs. 80 on average in this situation.
The expected value of the amount that A will receive can be calculated as follows:
If it rains, A will give Rs. 500 to B. The probability of rain is 0.3, so the expected value of this event is:
E(rain) = 0.3 x (-500) = -150
If it doesn't rain, B will give Rs. 100 to A. The probability of not raining is 0.7, so the expected value of this event is:
E(not rain) = 0.7 x 100 = 70
Therefore, the expected value of the amount that A will receive is:
E(total) = E(rain) + E(not rain) = -150 + 70 = -80
This means that A can expect to lose Rs. 80 on average in this situation.
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A says to B that he will give Rs. 500 to him if it rains and if doesn&...
Wagering contract simply means ..in English we say 'bet' and In Hindi we say 'shart' ...so in this question A And B have bet to each other ...that's why it's answer is wagering contract
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A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer?
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A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer?.
A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer?.
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A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of A says to B that he will give Rs. 500 to him if it rains and if doesn’t rain B will give him Rs. 500. Which type of contract is this?a)Wagering contractb)Contingent contractc)Valid contractd)Quasi contractCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
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