Answer :
A.
Since Jack King pays 40% of the annual premium and REST is paid by the company, 100%-40%=60% is paid by the company.
B.
Let the total premium be T. We can set up an equation from the information given. We know 496 is 40% of the total. So we can write:
[tex]496=0.4 T[/tex]. Solving for total, T, gives us,
[tex]\frac{496}{0.4} =1240[/tex]. So the total premium (paid by Jack and the company) is $1240.
C.
Since 1240 is the total and Jack pays only 496, the REST is paid by the company.
Company's payment = [tex]1240-496=744[/tex] dollars.
ANSWER:
A. 60%
B. $1240
C. $744
