288. PERCENTAGE.

OUTLINE OF PERCENTAGE.

289. 1st Meaning.

PERCENTAGE. 1290. 2d Meaning..

Per Cent.

TERMS. 291. RATE PER CENT. 292. RATE.
293. BASE.
294. AMOUNT.

295. DIFFERENCE.

296. NUMERATION AND NOTATION.

$297. I... 298. RULES. 299. II. 300. RULES. CASES. 1301. III.. 302. RULES. 303. IV.. 304. RULES. 305. FORMULA.

OUTLINE-Continued.

381. DISCOUNT.

394. Rule. 395. Case II. 396. Rule. 398. Rule. 399. Case IV. 400. Rule.

COUNT.401. Case V. . 402. Rule.

TRUE

DIS

403. Case 1. 404. Rule. 405. Case II. 406. Rule. 407. Case III. 408. Rule. 409. Case IV. 410. Rule.

COUNT. (411. Case V. . 412. Rule.

414. A Corporation.

416. Shares.

415. A Charter. 417. Certificates.

418. Stockholders.

419. At Par.

Value. 420. Above Par. 422. Market Value.

421. Below Par.

423. Dividends.
425. Bonds.

428. A Draft.

$429. Inland Draft.
1430. Foreign Bill of Exchange.

431. Rate of Exchange.
433. Sight Draft.
434. Time Draft.
436. Principle.

KINDS.

438. Direct.

...

432. Course of Exchange.

435. Days of Grace.

439. Indirect.

444. Direct Taxes. . .

446. Duties.

Duties or Indi

rect Taxes.

448. Excise.

TERMS.

450. Revenue.

451. Custom Houses.

452. Invoice.

461.

PARTNERSHIP.

468. BANKRUPTCY.

474.
AVERAGE
OF

PAYMENTS.

458. Draft or Tret.

462. Partners.
464. Capital.

466. Assessment.

469. Debtors.

471. Assets.

473. Assignee.

459. Gross

460. Net

463. Company.

465. Dividend.

467. Liabilities.

470. Creditors.

472. Net Proceeds.

475. Equated Time. 476. Focal Date.

477. Term of Credit. 478 Average Term of Credit. KINDS.-479. Simple. 480. Compound.

299

CHAPTER VI.

SECTION I.

PERCENTAGE

288. Per cent (contraction for per centum) means, by the hundred. Thus, 5 per cent of $1 is of a dollar, or 5 cents.

The term percentage, as commonly used, has two meanings.

289. 1. It is the name of a process of computing by hundredths. Thus, finding the value of 5 per cent of a dollar, is working an example in percentage.

290. 2. It is a name applied to any number of hundredths of anything that is regarded as a basis of computation. Thus, in the example 5 per cent of $1 = 5c., 5c. is the percentage, $1 the basis, or base.

Per cent is frequently used in the same sense as the second meaning of Percentage.

291. Rate per Cent is the number of hundredths. Thus, in the expression 6 per cent of $1, 6 is the rate per cent. In computations, we give the rate per cent a denominator 100, and thus obtain a common or decimal fraction called

292. The Rate, an expression denoting what part of

the base equals the percentage. Thus, in 6 per cent of $1 = 6c., the rate is 180, 7%, or .06.

293. The Base of percentage is that number of which a certain per cent is computed.

294. The Amount is the sum of the base and percentage.

295. The Difference, or Remainder, is the Base less the Percentage.

296. Rate per cent is usually written with the sign %. Thus 5 per cent may be written 5%. The sign %, is always read "per cent." Thus, 6% is read "Six per cent."

NOTE.-The sign is generally used in business, but in calculations rate only is used, and is written as a decimal or common fraction.

61 100'

Thus, the rate per cent 61 is the rate or, or .061, or .0625; the

121
100'

rate % 12 is the rate or, or .12, or .125.

One per cent of a number is of that number; less than one per cent of a number is less than of that number. One hundred per cent of a number is that number, because it is 188 of the number. Two hundred per cent of a number is twice that number, or 288 of it; etc.

Table showing what part of anything a certain rate % of

297. Base and Rate per cent given, to find Percentage.

Oral Exercises

EXAMPLE 1.-5% of $10 is what part of it? 10% ?

SOLUTION.-5% of $10 is 15, or of it. 10% of $10 is, or to of it.