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4. What may a broker demand, when he sells gooils to the value of 508l. 17$. 10d. and I allow him 15 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.
1. What is the insurance of 7251. Ss. 10d. at 12 per cent. ?
Ans. £90 19s. 71d. 2. What is the insurance of an East-India slijp and cargo, valued at 123+25 dollars, at 155 per cent. ?
Ans. $19130, 87 cts. 5m. S. A man's house estimated at 3500 dollars, was insų. red against fire, for 18 per cent. a year: what insurance did ho annually pay?
is. $61, 25cts.
SHORT PRACTICAL RULES,
or months and days.
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.
1. Required the interest of 541. for seven months an days at 6 per cent
Interest for one month.
37,8 ditto for 7 months.
1,8 ditto for 10 days.
2. What is the interest of 421. 10s. for 11 months, at 6
per cent. ?
42 10 = 42,5 decimal value.
£. s. d.
Ans. 46,75 Interest for 11 mo. = 2 6 9
3. Required the interest of 941. 78. 6d. for one year, five months and a half, at 6 per
Ans. £8 5s. 1d. 3,5qrs. 4. What is the interest of 121. 188. for one third of a month, at 6 per cent. :
II. FOR FEDERAL MONEY.
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 morths, and decimal parts thereof, or for the days take the even parts of a month, &c.
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.
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 days=}) 5,22 Interest for 1 month. ,
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.
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.
1. Required the interest of 316 dollars for 1 year and 10 months.
11half the number of mo.
Ans. 3476cts.=834, 76ets. 2. Whatıs the interest of 364 dols. 25cts. for 4 months ?
8 cts. 364, 25
2 half the months.
728, 50ets. Ans.=87, 28cts. 5m. III. When the principal is given in federal money, at 6 par cent. to tind 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!
1. What is the interest of 325 dols. for 11 months ?
3,75 shil. int. for 1 month. X11 months.
Ans. 107,258.=5575. 3d. . What is the interest in New-England currency, of 31 dols. 68 cts, for 5 months ?
Principal 31,68 dols.
,9504 Interest for one month.
Ans. 4,7520s. *4s. 9d.
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 ir: federal money.
RULE. Multiply the pounis, &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 5411 New-England currency has been on interest one month; how much is the interest thereof in federal money ? £:
Ans. 685cts. 86, 85cts. 9. Required the interest of 391.185. N. E, currency foi 7 nionths ?
39,9 decimal value.
Hitta for 7 months, 465,5rts: $4, 65cts. 5m. Ans.
V. When the principal is given in New-lingland and Virginia .currency, at 6 per cent. to find the interest for a year, in dollars, cents and mills, by inspection.
Since the interest of a year wül bir just so many cents as the given pricinal contains shillings, therefore, write down the slilings and caid them cents, and tlie pence in the principal maile less by 1. if they exceedl 3. or by 2 when they exceed 9, will be the nills, very nearly.