I have 10-12 questions like the example. can you give code in basic java and oops concept only.
Budget: ₹600 – ₹650 INR
Example :
Design a system for insurance company. The company is providing 2 types of insurance. Life
insurance and Endowment insurance.
a) If a person chooses the “Life insurance” than the company pay the insurance amount to
family members when a person is dead. A person who has taken this insurance need to
pay yearly or monthly premium to an insurance company. Consider company is taking
average lifespan of male 70 years and female 65 years. The yearly premium is calculated
using following formula [This is not original formula which uses in real life.]. Consider
premium rate as 25%.
i) Yearly premium = (insurance amount * premium rate ) / (Male or Female
average life span - Current age ).
ii) Suppose, Person A (Male) is taking insurance of Rs 5,00,000, his current age is
30.So yearly premium will be (5,00,000 * 0.25) / (70 -30) = 3125 Rs Per Year.
Design a system for insurance company. The company is providing 2 types of insurance. Life
insurance and Endowment insurance.
a) If a person chooses the “Life insurance” than the company pay the insurance amount to
family members when a person is dead. A person who has taken this insurance need to
pay yearly or monthly premium to an insurance company. Consider company is taking
average lifespan of male 70 years and female 65 years. The yearly premium is calculated
using following formula [This is not original formula which uses in real life.]. Consider
premium rate as 25%.
i) Yearly premium = (insurance amount * premium rate ) / (Male or Female
average life span - Current age ).
ii) Suppose, Person A (Male) is taking insurance of Rs 5,00,000, his current age is
30.So yearly premium will be (5,00,000 * 0.25) / (70 -30) = 3125 Rs Per Year.