Insurance companies have been formed to afford partial protection (insurance) against monetary loss by fire, storms, shipwreck, theft, injury by accidents, death, and so on. The written or printed agreement which a company makes with a customer is called a policy. The amount paid the company is the premium. This is usually stated at a rate per $100 for a period of 1 or 3 years. 1. A man had his house insured for $2,700 at $1.10 per $100; what is the premium? 2. What is the annual premium on a brick house valued at $6,500, the rate being $.45 per $100 for 1 year? Find the premiums for insuring dwelling property against loss by fire for the following amounts at the specified rates: 3. House, $1,550, contents for $500, at $1.05 per $100. 4. House, $3,400, contents for $1,000, at $.95 per $100. 5. House, $2,500, contents for $800, at $.90 per $100. 6. House, $4,500, contents for $1,500, at $1.10 per $100. 7. House, $7,000, contents for $3,000, at $1.20 per $100. 8. What is the annual premium for insuring a business block against loss by fire for $9,000 at $1.50 per $100, its first-floor contents for $5,000 at $1.15 per $100, and the other contents for $3,500 at $1.50 per $100? 9. Find the premium for insuring a building valued at $55,500 against damage by cyclones at $1 per $1,000. 10. If convenient, bring insurance policies and find the premium on each. They may be obtained at insurance agencies, since all policies are valueless beyond the period for which they are drawn. II. Find out about the rates of insurance in your locality, also the approximate value of some property. Find the premium that would be paid on the insurance of this property. INSURANCE Insurance rates are fixed by an association representing the various companies (Underwriters' Association) and vary Frame, detached, not less than 50 ft. on all sides, 0.50 Brick or stone, with metal or slate roof... 0.60 0.75 What premiums must be paid for the following insurances: 1. The schoolhouse, $10,000 for 5 years? 2. Mr. Ryan, house, $2,500, furniture, $800 for 2 years? Make and solve 3 other problems. 43 44 Written. PROBLEMS SUBSCRIPTIONS A subscription agency offers the following sets of magazines at the prices quoted: ALL OFFERS ARE FOR ONE FULL YEAR McClure's and Century Magazine McClure's and Leslie's Popular Monthly and Munsey's McClure's and Leslies's Popular Monthly and Cosmopolitan McClure's and Munsey's and Cosmopolitan McClure's and Leslie's Popular Monthly and Ainslee's McClure's and Munsey's and Ainslee's McClure's and Ainslee's and Pearson's McClure's and Cosmopolitan McClure's and Munsey's McClure's and Ainslee's McClure's and Ledger Monthly McClure's and Youth's Companion 1. If the regular subscription price of McClure's and Leslie's magazines is $1 each per year, how much is saved in a year by accepting the offer of the agency? 2. If the regular price of Scribner's is $3, how much is saved by accepting the second offer of the agency? 3. Answer the same question for the third, fourth, and fifth offers, taking the regular price of Harper's as $4, of the Century as $4, and of Munsey's as $1. 4. Make and solve 10 other problems, taking the regular price of the Cosmopolitan as $1, of Ainslee's as $1.50, of Pearson's as $1, of the Ledger monthly as $1, and of the Youth's Companion as $1.75. 5. What is gained per dollar over the regular price by accepting the agency's offer on the first four sets? 1. 6. If the agency reduces the present offer on all orders of $10 or over, what would be the total gain over the regular price in purchasing the first four sets? 7. What other magazines could be substituted for McClure's in the above offers? 8. If convenient, bring similar advertisements and solve problems about them. Oral. PROBLEMS-REVIEW 1. How many eighths are there in 2 wholes? In 9? In 10? In 10? In 25? In 100? 2. Express in eighths: 3; 6; 7; 8; 3. How many sevenths are there in 10? 45 In 7? 8. A gardener in putting pk. of ground bone about each of his rose-bushes used 8 pk.; how many rose-bushes had he? 9. For one dinner of a certain army 4,000 lb. of beef were required; allowing of a pound for each man, how many men were there in the army? 1 10. A certain hotel provided 20 bu. of potatoes for one day's dinner on the basis of 25 bu. per guest; how many guests were there in the hotel? II. How many thirds of a yard are there in a yard? How many whole yards in 12 thirds of a yard? 12. How many whole pounds are forty tenths of a pound? 13. If of a pound of butter costs 154, what is the price of of a pound? Of a whole pound? 14. If of wheat bread is water, how much water is there in 100 one-pound loaves? 15. If .6 by weight of round steak is water, how much water is there in 10 lb. of steak? 46 PROBLEMS-REVIEW 1. What is meant by drawing to a scale? 2. If in. in a drawing represents 30 miles, how many miles do 3 in. represent? 3. In the picture of the New Haven Public Square, in. 8. Mr. Perkins sent a money-order in payment for a set of books which cost $9.25; what did the money-order cost him? 9. If 100 lb. of sugar cost $6, what is the cost of 1 lb.? Of 20 lb.? Of 50 lb.? 10. Express decimally, then as whole numbers and fractions: 125 and 1 hundredth. 16 and 5 hundredths. 17 and 25 hundredths. 36 and 3 hundredths. II. Make problems for the following: 100 yd. of silk cost $140. 100 yd. of ribbon cost $25. of a ton of coal costs $3.50. of a pound of tea costs $.60. |