2.1 Use TABLE 2 below showing different options with premiums paid and benefits of an
insurance company.
TABLE 2
NOTE:
- Benefits in the table represent money paid out in the event of death for a
- person 15 years and older
- Benefits for those younger than 15 years are 75% of the amounts indicated in
- the table.
- Premium is the amount paid monthly to be able to get the death benefit.
2.1.1 What will be the premium paid by a member with a spouse and children to get the
benefit of R30 000? (2)
2.1.2 Mary claims that the percentage increase for the premium paid in Option 1 to
Option 4 for a member and spouse is more than 100%. Verify, with the necessary
calculations, whether Mary’s statement is valid or not. (4)
2.1.3 Give a reason why less money is paid out for a 5-year-old than for a 15-year-old. (2)
2.2 Mr May has cut glass into shapes from a circular piece of glass as shown below.
2.2.1 Write the distance of B to the distance of A as a ratio. (6)
2.2.2 Glass is sold at R15 per square metre excluding VAT. With the necessary
calculations, show that the cost of unused glass (including VAT) from the
circular piece of glass to cut the cross shaped piece of glass, is less than R20.
You may use the following formulae:
- Area of cross shaped part = Area of bigger rectangle + 2 × Area of smaller rectangles
- Area of a rectangle = length × width
- Area of a circle = π × r2
(10)
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