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:: Insurance Problem ::

Alan took out an insurance policy for his son on his son's first birthday. Under the scheme the first premium was £10 and the premiums increased £10 each year. At the end of a number of years the son found that the amount already paid in premiums was equal to the amount which would still have to paid before the sum insured would be due for payment.

What was the son's age at this period and at what age would the insurance be due?

Answer: 14 and 20 years respectively.

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