3. Cost $1.50; from what price can I fall 10%, and still make 20% ? Ans. $2. 4. Cost 9; from what price can I fall 10%, and still make 50%? Ans. 15%. 5. Cost 20%; from what price can I fall 25%, and still make a profit of 20% ? Ans. 32. 6. If goods selling at $2.40, realize 331% gain, what would be the rate % of gain at $2.10? Ans. 16% NOTE. First find cost (Case IV.); then rate % of gain (Case II.) 7. If sales at $1.80 make 10% loss, what would be the rate Ans. 10%. % of gain at $2.20 ? Ans. 25%. Ans. 4%. 8. If property at $800 makes 20% loss, what would be the rate % loss at $750 ? 9. If a bank share at $62.50 is 25% gain, what would be the rate % loss at $48? 10. If land at $56 an acre is 12% gain, what would be the rate % gain at $60 an acre? Ans. 20%. 11. If nails at 69 a lb. make 4% loss, what would be the rate % gain at 7 a lb. 12. If a merchant realizes 20% gain on tea what would he do at 561 a lb. ? Ans. 12%. at 75% a lb., Ans. Lose 10%. 13. Selling price 159; gain 25%; find rate % of gain at 16. Ans. 33%. 14. Selling price 15; loss 25%; find the rate % of gain at 25%. Ans. 25%. 15. A speculator sold 2 houses at $6000 each; on one he gained 331% of his investment, and on the other he lost 331% of his investment. Did he gain or lose, and how Ans. $1500 loss. 16. A man sold a house, which was presented to him, for $5000. What was his rate % of profit? much? Ans. ? SECTION IV. INSURANCE I 320. Insurance is indemnity against pecuniary loss, pledged by one party to another. 321. The Premium is the sum paid for insurance, and is a certain per cent. of the sum insured. 322. The Policy is the contract between the parties. 323. Fire Insurance is indemnity for loss by fire. 324. Marine Insurance is indemnity for loss by navigation. 325. Health Insurance secures an allowance of money during the sickness or disability of the party insured. 326. Life Insurance secures a specified sum of money to a designated person, or to designated persons, or to their heirs, on the death of the party insured, or on his arriving at a certain age. 327. Underwriters or Insurers are the parties that insure against loss. 328. Fire and Marine Insurance. Fire and Marine Insurance are so completely covered by Cases I, II, and III of Percentage, that it is thought unnecessary to do more than say that the Value Insured corresponds to the base B. CASE I. 329. To find the Premium, when the Value and Rate % are given. PROBLEMS. What is the Premium on 1. A house insured for $2000, at 14%? 2. A store insured for $3500, at 2%? 3. A barn insured for $900, at 3%? 4. Furniture insured for $1250, at %? 5. A church insured for $16000, at 17%? 6. A factory insured for $64000, at 21%? 7. A ship insured for $15000, at 3%? 8. A steamboat insured for $85000, at 21%? 9. Freight, for $3780, at 12% ? 10. A mill, for $12500, at 21% ? Ans. $30. Ans. $70. Ans. $6.75. Ans. $7.81. Ans. $300. Ans. $1440. Ans. $450. Ans. $2125. Ans. $66.15. Ans. $312.50. 11. Clothing, for $875, at 1% ? CASE II. Ans. $7.66. 330. To find the Rate %, when the Value and Premium are given. CASE III. 331. To find the Value Insured, when the Rate % and Premium are given. PROBLEMS. What is the value insured, when the 1. Premium is $6 and 1.2 the rate %? 332. Life Insurance. Life Insurance is of different kinds. Ans. $500. Ans. $1000. Ans. $800. Ans. $3600. Ans. $5000. Ans. $8000. The rates paid for life insurance depend upon the age of the party insured, and the kind of Policy taken out. For example, it costs more per year to insure a man 50 yr. of age, than one 40 yr. of age. It also costs more per yr., to insure a man of any number of years of age, when the payments are to be made in a stated number of years, than when they are to be made every year he lives. It also requires a higher rate for any given man when the insurance is to be paid at the end of some stipulated period, if the man be living, or at his death should it previously occur. PROBLEMS. 1. A man at the age of 53, paid at the rate of 5.38% per year, for an insurance on his life. What was the annual premium on $5000? 2. After having paid an annual $10000 for 5 yr., the insured died. was paid was received by the heirs? Ans. $269. premium of 2.6% on How much more than Ans. $8700. 3. A man paid for 40 years a premium of 2.53% on $7500. How much did he pay in all? Ans. $7590. SECTION V. COMMISSION 333. Commission is the pay of an agent, collector, broker, &c., and is usually estimated on the amount of money he receives or expends. 334. An Agent or Factor is a person who transacts business for another. 335. A Commission Merchant is a merchant who buys and sells goods for others. 336. A Broker is an agent who buys and sells stocks, notes, money, &c. 337. Brokerage is the commission of a Broker. 338. A Consignment is merchandise sent to an agent for sale. 339. A Consignor is a sender or maker of a consignment. 340. A Consignee is an agent who receives a consignment. Commission embraces the Four Cases of Percentage. Hence, the same Rules apply, and need not be repeated. The Proceeds of sales, or the moneys collected or invested correspond to the base B. The Commission corresponds to the percentage 66 rate % The Proceeds + Com. difference... D. |