4. What is the interest of $607.50 for 5 years, at 6 per cent, per annum ? Ans. $182.25. 5. What is the interest of 2131. from Feb. 12, to June 5, 1796, it being leap year, at 31 per cent. per annum? Ans. 21. 6s. 6d. 3509. SIMPLE INTEREST BY DECIMALS. RULE.* Multiply continually the principal, ratio, and time, and it will give the interest required. * The following theorems will show all the possible cases of Simple Interest, where = principal, t = principal, time, r = ratio, and amount. Ratio is the simple interest of 11. for 1 year, at the rate per cent. agreed on; thus the ratio 1. What is the interest of 9451. 10s. for 3 years, at 5 per cent. per annum? 2. What is the interest of 7961. 15s. for 5 years, at 41 per cent. per annum ? Ans. 1791. 5s. 41d. 3. What is the interest of 5371. 15s. from November 11, 1764, to June 5, 1765, at 35 per cent.? Ans. 111. id. COMMISSION. COMMISSION is an allowance of so much per cent. to a factor or correspondent abroad, for buying and selling goods for his employer. EXAMPLES. 1. What comes the commission of 500l. 13s. 6d. to at 31 per cent. ? 2. My correspondent writes me word, that he has bought goods on my account to the value of 7541. 17s. What does his commission come to at 21 per cent.? Ans. 181. 17s. 4 d. 3. What must I allow my correspondent for disbursing on my account 5291. 18s. 5d. at 24 per cent.? Ans, 111. 18s. 51d, BROKERAGE. BROKERAGE is an allowance of so much per cent. to a person, called a Broker, for assisting merchants or factors in procuring or disposing of goods. EXAMPLES. 1. What is the brokerage of 610l. at 5s. or per cent.? 2. If I allow my broker 33 per cent. what may he demand, when he sells goods to the value of 8761. 5s. 10d.? Ans. 321. 17s. 21d. 3. What is the brokerage of 8791. 18s. at per cent.? Ans. 31. 5s. 113d. INSURANCE. INSURANCE is a premium of so much pen cent. given to certain persons and offices for a security of making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c. EXAMPLES. 1. What is the insurance of 8741. 13s. 6d. at 13 per 2. What is the insurance of 9001. at 103 per cent, ? Ans. 961. 15s. 3. What is the insurance of 12001. at 7 per cent.? Ans. 911. 10$. |