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ing it for $9550.00, after allowing a commission of 31

per cent. ?

3. My correspondent has expended $4762.00 in the purchase of cloths, by my order. What will he receive for the transaction, if I allow him 23 per cent on the whole amount?

4. What is the commission on £963 178. 6d., at 4; per cent. [Multiply by 14 and divide by 100.]

INSURANCE is a security against loss by fire or otherwise, and is generally obtained by the payment of a certain percentage, called the PREMIUM.

The instrument by which insurance is effected, is called the POLICY.

5. A farmer insured his house for $950.00 at 14 per cent., his barn at $375.00 at 1] per cent., and his granary and sheds for $275.00 at 1 per cent. What premium did he pay for the whole ?

6. An English merchant effected an insurance of £5163 10s. on the ship Mary Ann, at a premium of 14 per cent. What did he pay, including a charge of 3s. 6d. for the policy?

7. What premium must be paid for insuring $9795.00 on a warehouse, at 2} per cent. ?

8. What amount of premium must I pay to insure the following property for one year: $10875.00 on my store, and $4500.00 on the merchandise in the same, at per cent.; $4650.00 on my house, and $1750.00 on the fur. niture, books and clothing contained in it, at $ per cent. ; and $975.00 on my barn, at per cent. ?

Taxes are certain amounts levied on all citizens for the support of government. The poll tax is assessed on every male citizen above a certain age specified by law, and its amount is fixed by statute. The property tax is estimated at a certain percentage of its assessed value.

9. When taxes are rated at 11 per cent. upon all real and personal estate, what amount will be paid by a man whose property is valued at $5680.00, and who pays for 3 polls at $0.75 ?

10. The poll tax being $1.50, and the property tax

$4.50 on every $100.00, how much must I pay for $4675.00 real estate, $963.00 personal property, and 2 polls?

11. At 33 per cent, what amount of tax must be paid by property valued at $18875.25 ? How much would be paid on the same property, at 41 per cent. ? At s per cent. ? Ati per cent. ?

Stocks are sums of money invested in government funds or corporations, and are bought and sold by shares. The par value of a share is the original cost. When a share will sell for more than the original cost, it is said to be above par, or at an advance ; when for less, below par, or at a discount.

12. What must I pay for 27 shares of the Boston and Worcester Rail Road, the stock being 162 per cent. above

par value $100 per share ? 13. The par value of United States Bank stock, was $100 per share. How much was received for 31 shares, at 94 per cent. below par ?

14. A man purchased $5000 Pennsylvania stock at par, and sold it at a discount of 192 per cent. How much did he receive for the whole ?

15. What must I pay for 43 shares of bank stock, at an advance of 75 per cent. on the par value, which is $250

par, and the

per share?

16. What is the value of $9500 of stock, at 25 per cent. advance? At 191 per cent. discount? At 50 per cent. below par?

GAIN AND Loss are frequently estimated by percentage.

17. How much per cent. do I gain, by selling at 90cts. a pound, tea that cost me 75 cents ? [The gain is 15cts., or of the prime cost. This fraction reduced to a deci. mal, gives .2, or .20.]

Ans. 20 per cent. 18. 3.5 is what per cent. of 31 ? Ans. 1941 per. cent. 19. What per cent. of 63 is 7 ? 12? 13.7 ? 49.25 ?

20. Bought 18.75 yards of broadcloth, at $4.00 per yard, and sold the whole for $83.50. What did I gain, and how much per cent. ?

21. A grocer sold sugar at 73 cents a pound, which

was 20

per cent. more than it cost him. What was the prime cost? In other words, 0.075 is 1.20 times what number?

22. 2.975 is .85 of what number? Then, if I lose 15 per cent, by selling broadcloth at $2.975 per yard, what was the prime cost ?

23. A draper sold cloth at 123 per cent. less than it cost him, thereby losing 62 cents a yard. What did he pay for the cloth ?

24. When sugar is $6.50 per cwt., what must be the X price per

lb. to gain 40 per cent. ? 25. A merchant purchased 96 bushels of wheat, at $0.95 per bushel, and paid $1.25 for carting it from the farm. For how much must he sell one half of it to gain 18 per cent. ?

26. Bought in Jamaica 17 hogsheads of molasses, each holding 118gal. 2qt. at 20 cents a gallon ; paid for freight $1.25 per hogshead; for insurance $8.06; and for duties $35.154. At what price per gallon must I sell it to gain 25 per cent. ?

27. Bought 13cwt. 3qr. 171b. of coffee, at 92 cents a pound, but it having been damaged, I sold the whole for $125.00. How much did I lose, and what per cent.?

28. Bought 39} reams of paper for $162.933. For how much must I sell it per ream, to gain 33} per cent. ?

Duties are imposts levied by government on goods imported into a country. Before computing them, certain deductions are made. For leakage and breakage, 2 per cent. is allowed on the gauge on all merchandise paying duty by the gallon, contained in casks; 10 per cent. on all beer, ale and porter, in bottles, and 5 per cent. on all other liquors in bottles.

DRAFT is an allowance made for waste. The following is the present legal rate : On lcwt. or 11216.

Above 1 and under 2cwt.




18 18 and upwards,



Tare is an allowance made for the weight of the box, cask, &c., containing the merchandise, and is made after deducting the draft. The weight before making the deductions, is called the gross weight,-after the deductions are made, the net weight. Duties are computed on the net weight.

29. What is the duty on 5cwt. 3qr. 11lb. of currants, tare 12 per cent., duty 3 cents a pound ?

30. What is the duty on 156lb. of chocolate, tare 10 per cent., duty 4 cents per pound?

31. What is the duty on 459gal. 2qt. of wine, at 35cts. a gallon?

32. What is the duty on 27cwt. of indigo, tare 12 per cent., duty 5cts. a pound?

33. What is the duty on 35 cwt. of pepper, tare 5 per cent., duty 5cts. a pound?

INTEREST. INTEREST is an allowance of a certain per cent. for the use of money. The Principal is the sum on which the interest is paid. The Rate is the percentage paid annually. It is regulated by statute, the usual rate being 6 per cent.* The Amount is the sum of principal and interest.

When interest is charged only on the original principal, it is called SIMPLE INTEREST. But when it is also charged on the interest, as it becomes due, it is called COMPOUND INTEREST.

SIMPLE INTEREST. The usual rate is .06, and this rate is always to be understood, unless some other is expressed.

* In each of the New England States, in New Jersey, Pennsylvania, Delaware, Maryland, Virginia, North Carolina, Tennessee, Kentucky, Ohio, Indiana, Illinois, Missouri, Arkansas, and the Dist. of Columbia, and on U. S. notes, the rate is 6 per cent. In N. York, S. Caro. lina, Michigan, Wisconsin and Iowa, it is 7 per cent. In Georgia, Alabama, Mississippi and Florida, per cent. In Louisiana, per cent., though the bank interest is .06, and conventional interest may be as high as .10. In Maryland the interest on tobacco contracts is .08. In Mississippi, Missouri and Arkansas, the interest by agreement may be as high as .10, and in Illinois, Wisconsin and Iowa, as high as .12.

If the rate is .06 for one year, for one month it will be 12 as much, or .005; for 6 days, or } of 1 month, it will be z as much as for one month, or .001. For 1 day, it will be į as much as for 6 days, or 3 of .001, which is 600. Hence the

BANK RULE. Multiply the principal by the number of days, and divide by 6000; the quotient will be the interest at 6 per cent.

For any other rate than 6 per cent., compute the interest in the same manner, and add or subtract such part as may be required. For 4 per cent. subtract } ; for 4 per cent. subtract į; for 5 per cent. subtract ģ; for 7 per cent. add ž, and so on.

This rule is the one generally employed by banks and merchants. It estimates the year at 12 months of 30 days, and consequently gives the interest a trifle too large. If it is desired to obtain the exact interest, deduct 73 from the sum found by the rule.


Multiply the time, expressed in years and decimals of a year, by the annual rate, and multiply the principal by this product.


Find the bank interest of $1963.50 from Jan. 29th, to May 2d.

Find the exact interest of $4725.00 for 5mo. 19d., by each of the above rules.

1. What is the bank interest on $950, for 6 months, at 6 per cent. ?

2. What is the decimal interest on $1375, for 11mo. 5d., at 5 per cent. ?

3. What is the exact interest on $2000 for 475 days, at 4 per cent. ?

4. What is the exact interest on $1500, from Aug. 18th, 1843, to Sept. 7th, 1844, at 6 per cent. ?

5. What is the bank interest on $942.50, from Feb. V 11th, 1844, to Dec. 3d, 1844, at 6 per cent. ?

6. What is the bank interest on $23635, for 63 days, at 45 per cent?

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