Page images
PDF
EPUB

4. What may a broker demand, when he sells gooils to the value of 5081. 17$. 10d. and I allow him 13 per cent ?

Ans. £7 12s. 8d.

INSURANCE, IS a premium at so much per cent. allowed to persons and offices, for making good the loss of ships, houses, mer; chandize, &c. which may happen from storms, fire, &c.

EXAMPLES.

1. What is the insurance of 7251. ss. 10d. at 125 per cent. ?

Ans. £90 15s. 71d. 2. What is the insurance of an East-India slip and cargo, valued at 123+25 dollars, at 15% per cent. ?

Ans. $19130, 87cts. 5m. 3. A man's house estimated at 3500 dollars, was insų. red against fire, for 1 per cent. a year : what insurance did ho annually pay?

Ans. $61, 25cts.

SHORT PRACTICAL RULES,
For calculating Interest at 6 per cent. either for months,

6
or months and days.
1. FOR STERLING MONEY.

RULE. 1. If the principal consists of pounds only, cut off the unit figure, and as it then stands it will be the interest for one month, in shillings and decimal parts.

2. If the principal consists of pounds, shillings, &c. reduce it to its decimal value; then remove the decimal point one place, or figure, further towards the left hand, and as the decimal then stands, it will shew the interest for one month, in shillings, and decimals of a shilling.

EXAMPLES.

1. Required the interest of 541. for seven months ani ten days at 6 per sent

S.

10 days= })554
10 days *})5,4 Interest for one month.

37,8 ditto for 7 months.
1,8 ditto for 10 days.

Ans. 39,6 shillings=£1 19s. 7,2d.

12

7,2

per

2. What is the interest of 421. 10s. for 11 months, at 6
cent. ?
£. s.

42,5 decimal value.
Therefore 4,25 shillings interest for 1 month.

£o

42 10 =

11

Ans. 46,75 Interest for 11 mo. E

S. d.
6 9

3. Required the interest of 941. 78. 6d. for one year, five months and a half, at 6 per cent. per annum.

Ans. £8 5s. 1d. 3,5qrs. 4. What is the interest of 121. 188. for one third of a month, at 6 per cent. ?

Ans. 5,16d.

II. FOR FEDERAL MONEY.

RULE.

1. Divide the principal by 2, placing the separatrix as usual, and the quotient will be the interest for one month in cents, and decimals of a cent; that is, the figures at the left of the separatris will be cents, and those on the right, decimals of a cent.

2. Multiply the interest of one month by the given nunber of months, or moriths, and decimal parts thereof, or for the days take the even parts of a month, &c.

EXAMPLES.

1. What is the interest of 341 dels. 52 cts. for 7}.months? 2)341,52

Or thus, 170,76 Int. for 1 nonth. 170,76 Int. for 1 month.

7.7,5 months 7

85980 195,52 do. for 7 mo. 119532 85,38 viu. for mo.

8 cts.m

1280,700cts. 12,80 7 1280,0 Ans. 1280.7 cls. E$12, 80cts. 7m.

2. Required the interest of 10 dols. 44 cts. for 3 years 5 ruths and 10 dau's.

10,44

10 days=}) 5,22 Interest for 1 month. ,

41 months.

5.22 208,8

214,02 ditto for 41 months,

1,74 ditto for 10 days.

215, 6cts. Ans.=82, 15cts. 7in. + 3. What is the interest yf 342 dollars for 11 inonths

Thesis 171 Interest for one month.

11

[ocr errors]

Ans. 1881cts. $18, 81cts. Note. To find the interest of any sum for 2 months, at 6 per cent. veos need only all the dollars so many cents, anlihe interior denominations decimals of a cent, and it is done : Thus, the interest of 100 dollars for two moriths, is 100 cents, or 1 dollar; and $25, 40 cts. is 25 «ls. 4 M. &c. which gives the following

RULE II Multiply the principal by hall the number of months, me the product will shiew the interest for the given time,

**s and decisuals of a cent, as apgy.

EXAMPLES

1. Required the interest of 316 dollars for 1 year and 10 months.

11-zhalf the number of mo.

Ans. 3476cts.=834, 76cts. 2. Whatis the interest of 364 dols. 25cts. for 4 months ?

Scts. 364, 25

2 half the months.

728, 50cts. Ans.=87, 28cts. 5m.

III. When the principal is given in federal money, at 6 par cent. to find how much the monthly interest will be in New-England. &c. currency.

RULE. Multiply the given principal by ,03 and the product will be the interest for one month, in shillings and deci. mal parts of a shilling!

EXAMPLES.

1. What is the interest of 325 dols. for 11 months ?

,03

3,75 shil. int. for 1 month. X11 months.

Ans. 107,25s.= 5.75. 3d. 2. What is the interest in New England currency, of 91 dols. 68 cts, for 5 months ?

Principal 31,68 dols.

,03

,9504 Interest for one month.

5

Ans. 4,75205.<4s. 98.

12

IV. When the principal is given in pounds, shillings, &c. New-England currency, at 6 per cent. to find how much the monthly interest will be in sederal money.

RULE. Multiply the pounıls, &c. by 5, and divile that product by S, the quotient will be the interest for one morith, in cents, and decimals of a cent, &c.

EXAMPLES.

1. A note for £411 New-England currency has been on interest one month ; how much is the interest thereof in federal money? £:

411

5

3)2055

Ans. 685cts. 86, 85cts. 9. Required the interest of 39.185. X. E, currency foi 7 nionths ?

si&decimåt value.

[blocks in formation]

Ditto for 7 months, 465,5cts.=84, 65cts. 5m. Ans. 1. When the principal is given in New-lingland and Virginia currency, it 6 per cent. to find the interest for a year, in dollars, cents and mills, by inspection.

RULE. Since the interest of a year wiil br just so many cents as the given princinal contains shillings, therefore, write down the s!iilungs and rail tiem cents, and tlie pence in the principal made less by 1 if they exceed 3. or by 2 when they exceed 9, will be the mills, very nearly.

« PreviousContinue »