If you are $N$ radii above a sphere, what fraction of the hemisphere below you can you see?
The answer is so nice that it prompted another question: is there an intuition behind it, in the sense that one might have guessed it before going into the details of the computation? I'll be content with the answer, but I'm really after the intuition, if any springs to mind.
Now transform this picture with respect to the reference circle (assumed to be a unit circle) so that a point $X$ of distance $R$ on the ray through the center of the circle is transformed to a point $X'$ on the same ray but with distance $1/R$ from the center. Doing this, we wind up with the picture on the right. While inversion has a lot of interesting properties (not the least of which is the fact that inversion fixes points on the reference circle), the useful property in this situation is that any two points and the origin will form a triangle that is similar to the triangle formed by inverting the two points ($\angle OBT = \angle OT'B'$, for example). This means that the left and right pictures are exactly the same, so a bit of adding and subtracting 1 from various quantities gives us the result that $h=n/(n+1)$, which is exactly the answer we needed.
This is essentially a comment to Rahul Narain's answer, about why areas of spherical caps are proportional to the height.
Imagine dropping the sphere into a cylinder into which the sphere fits snugly. Project the sphere onto the cylinder, with parallels of latitude projecting onto circles. This mapping is area-preserving. That can be shown by working with elements $ds$ of length. The same thing was done rigorously by Archimedes about $2200$ years ago, without (explicit) calculus, in On the Sphere and Cylinder.