Prepare the Revenue Account for the Fire Insurance Business for the year ended 31/3/2024, given the Net Premium Written and a policy of 50% reserve for unexpired risk.

Here's the preparation of the Revenue Account for Fire Insurance Business for the year ended 31/3/2024.

Schedule 1: Premium Earned (Net)

Step 1: Identify Net Premium Written.
The problem provides 'D' as the Net Premium (after adjusting for direct business, reinsurance accepted, and ceded) as 2,52,00,000.

Step 2: Calculate the Reserve for Unexpired Risk at the end of the year.
The company policy is to maintain a 50% reserve for unexpired risk.

\begin{align*} Closing Reserve for Unexpired Risk &= 50\% \times Net Premium Written \\ &= 50\%