New Graded Lessons in Arithmetic Volume 8
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1910 edition. Excerpt: ...forms are fire insurance, marine insurance, accident insurance, and life insurance. The first insures against loss by fire, the second against any loss at sea, the third against any loss from an accident, and the fourth against loss by death. 4. The policy is the written agreement between the company and the person insured. 5. The premium is the sum paid for the insurance. The premium is a per cent of the amount named in the policy. 6. The insurer is often called the underwriter. 7. Property is usually insured for less than its full value. ORAL EXERCISES 8. A house valued at $4000 was insured for f of its value at 2%. What was the premium? 9. If a man insures his life for $8000 at 5% per annum, what will be his annual premium? 10. If $16 is paid at 1% for insuring a house for of its value, what is its value? 11. If $240 is the premium paid for insuring a house at 2% on of its value, what is the value? 12. What premium must you pay at 2% for insuring goods worth $7500?.J.3. What premium must you pay at f% for insuring goods worth $2000? 1. A building worth $64,000 was insured for of its value at H%-Find the premium. of $64,000=148,000 Since the building was insured for 110/ f mq rmn -7?n only i of its value we first find J of 1J% Ot $48,000 =$720 $64,000, which is $48,000. We then find % of $48,000, which is $720. 2. A man insured his house for of its value at %, and paid a premium of $45. Find the value of the house. $45-5-.0125 = $3600 First divide the premium by the rate 2 f i _-Q-rn to find the sum insured, which is $3600. $ ot value-Jmouu Since the house was insured for j of its % of value =$3600 X = value $3600= of the value and f of Ac.u the value must be $5400. 3. A factory valued at $75,000...
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