9. Find the value of the 4 following cases of gum tragacanth,

10. Find the value of the 6 following bales of Surat cotton wool, at 17 d. per lb. net.; viz.

11. Find the value of the 8 following casks of soap tallow, at

COMMISSION

AND BROKERAGE.

COMMISSION is an allowance of so much per cent. to a factor or agent, employed in buying or selling goods, collecting or accepting bills, or transacting commercial business in general. The usual rate is 2 or 24 per cent. for purchasing goods, and the same for selling goods, with an addition of 1 or 2 per cent. when the debts are guaranteed by the factor, which is sometimes called, standing del credere. The commission on bills is generally per cent., but sometimes only or, when the agent employed does not come under acceptance.

BROKERAGE is an allowance made to a broker, or person who is employed, to settle the prices and terms of purchases and sales of goods; the negociating of bills, or of Government and other securities; effecting insurances; and of various other transactions of business, between the respective parties. The rate of the allowance varies, on different kinds of goods and transactions, from to 1 per cent.; but per cent. is a common rate of brokerage, on many articles in London.

The brokerage on insurances, and on buying and selling stock, &c. will be found under their proper heads.

TO FIND THE COMMISSION OR BROKERAGE ON ANY GIVEN

SUM.

RULE.

1. Multiply the given sum by the rate per cent. and divide

by 100; the quotient is the commission. If the rate has a fraction, take a proportional part for it*.

2. Compute by Practice, taking parts of 100 for the rate+.

EXAMPLE I.

Required the commission on £958. 16s. 6d. at 3 per cent.?

Required the brokerage on £597. 12s. 6d. at per cent.

*These questions belong to proportion. The first term of the proportion being 100, the second the given sum, and the third the rate per cent.

This method is often the shortest.

EXERCISES.

1. Required the commission on £1645., at 1 per cent.? 2. Required the commission on £1070. 17s. 6d., at 14 p. ct.? 3. Required the commission on ₤1987. 6s. 8d., at 24 p. ct.? 4. Required the commission on £491. 15s. 54d., at 2 p. ct.? 5. Required the commission on £628, 13s. 84d., at 21 p. ct.? 6. Required the commission on £6156. 10s. 2d., at 4 p. ct.? 7. Required the commission on £479. 19s. 3d., at 5 p. ct.? 8. Required the commission on £798. 15s. 6d., at 7p. ct.? 9. Required the brokerage on £1150., at per cent.? 10. Required the brokerage on £965. 10s. at

11. Required the brokerage on £730. 10s., at 12. Required the brokerage on £657. 16s., at

per cent.?

per cent.?

per cent.?

13. Required the brokerage on £1172. 16s. 6d., at p. ct.? 14. Required the brokerage on £175. 12s. at 3s. per cent.? 15. Required the brokerage on £1821. 12s. at 2s. per cent.? 16. Required the commission on £832., at 2 per cent.? 17. Required the commision on £7564., at 24 per cent.? 18. Required the brokerage on £7321. 10s. 6d. at per cent.? 19. Required the brokerage on £1436. at per cent.? 20. Required the brokerage on £730. 5s. at 4 per cent.? 21. Required the brokerage on £1140. 16s. at per cent.? 22. Required the commission on £796, 8s. at 2 per cent.?

23. A broker procures an insurance on £1850; how much must he be allowed for his trouble, at 3s, 9d. per cent.?

24. A broker transacted business for his employer to the extent of £8760. 15s.; what is he entitled to, at 6s. 8d. per cent.?

25. Bills were negociated by a broker, for A. B., to the amount of £18765. 16s. 8d.; what has the broker to receive, at per cent.?

26. Sent my employer, in Jamaica, account sales of 50 hhds. of sugar, sold for £2750. 18s. 9d. My commission 24 per cent. and brokerage per cent. Duty, freight, and other charges, £935. 7s. 6d. Required the proceeds due to him?

27. Transmitted my correspondent account sales of 50 puncheons of rum, which were sold at £605. Ils. The charges of custom, freight, &c., paid by me, came, to £213. 17s. 6d. Commission and guarantee of debts, 4 per cent. What is the net proceeds?

28. Rendered account sales of a consignment, gross amount, £571. 8s. 4d. Charges of freight, cartage, and porterage, £14. 16s. 8d.; commission and del credere, or guarantee of debts, 5 per cent. Required the net proceeds?

29. Shipped to my employer, goods which I purchased by his order, to the amount of £561. 4s. 10d. Charges of packing, cartage, and porterage, £3. 15s. 6d. Wharfage, entry bond, and shipping, £5. 10s. 8d. Commission, 24 per cent. Required the amount of the invoice?

The following concise methods may be useful in business.