ANOTHER METHOD. Write down the given principal in cents, which multiply by the rate, and divide by 100 as before, and you will have the interest for a year, in cents, and decimals of a cent, as follows: 9. What is the interest of $73, 65 cents for a year, at cent. 6 per Principal 7365 cents. 6 Ans. 441,90cts.=441cts. or $4,41cts. 9m. 10. Required the interest of 885, 45cts. for a year, at 7 per cent. ? Cents. Principal 8545 7 Ans. 598, 15 cents, $5,98cts. 1m. CASE II. To find the simple interest of any sum of money, number of years, and parts of a year. GENERAL RULE. for any 1st. Find the interest of the given sum for one year. 2d. Multiply the interest of one year by the given number of years, and the product will be the answer for that time. 3d. If there be parts of a year, as months and days, work for the months by the aliquot parts of a year, and for the days by the Rule of Three Direct, or by allowing 30 days to the month, and taking aliquot parts of the same.* * By allowing the month to be 30 days, and taking aliquot parts thereof, you will have the interest of any ordinary sum sufficiently exact for common use; but if the sum be very large, you may say, As 365 days is to the interest of one year :: so is the given number of days to the interest required. EXAMPLES. 1. What is the interest of 75l. 8s. 4d. for 5 years and 2 months, at 61. per cent. per annum ? s. d. 62mo.4 10 6 Interest for 1 year. 5 8 4 4/52 10 0 20 10/50 12 6100 2. What is the interest of 64 dollars 58 cents, for 3 years, 5 months, and ten days at 5 per cent. ? 4 mo. 8 64,58 Ans, 1112,19-1112cts. or $11, 12c. 1m. 3. What is the interest of 789 dollars for 2 years, at 6 Ans. $94, 68cts. per cent. ? 4. Of 37 dollars 50 cents, for 4 years, at 6 per cent. Ans. 900cts. or $9. per annum ? 5. Of 325 dollars 41 cts. for 3 years and 4 months, at Ans. $54, 23cts. 5m. 5 per cent. ? 6. Of 3251. 12s. 3d. for 5 years at 6 per cent. ? Ans. £97 13s. 8d. 7. Of 174l. 10s. 6d. for 3 and a half years at 6 per Ans. £36 13s. 8. Of 150%. 16s. 8d. for 4 years and 7 months, at 6 per cent. ? cent. ? Ans. £41 9s. 7d. 9. Of 1 dollar for 12 years at 5 and a half per cent. ? 10. Of 215 dollars 34 cts. for 4 and a half years, at 3 Ans. $33, 91cts. 6m. 11. What is the amount of 324 dollars, 61 cents, for 5 years and 5 months, at 6 per cent. ? Ans. $430, 10cts. 825m. 12. What will 3000l. amount to in 12 years and 10 months, at 6 per cent.?, Ans. £5310. 13. What is the interest of 2571. 5s. 1d. for 1 year and 3 quarters, at 4 per cent. ? Ans. £18 0s. 1d. 3grs. 14. What is the interest of 279 dollars, 87 cents for 2 years and a half, at 7 per cent. per annum ? Ans. $48, 97cts. 74m. 15. What will 2791. 13s. 8d. amount to in 3 years and a half at 54 per cent. per annum ? Ans. £331 1s. 6d. 16. What is the amount of 341 dols. 60 cts. for 5 years and 3 quarters, at 7 and a half per cent. per annum? Ans. $488, 91 cts. to at 6 per cent. in 5 of a year ? Ans. $975, 99cts. 17. What will 730 dols. amount years, 7 months and 12 days, or 18. What is the interest of 1825l. at 5 per cent. per annum, from March 4th, 1796, to March 29th, 1799, (allowing the year to contain 365 days ?) Ans. £280. NOTE. The Rules for Simple Interest serve also to calculate Commission, Brokerage, Insurance, or any thing else estimated at a rate per cent. COMMISSION, IS an allowance of so much per cent. to a factor or correspondent abroad, for buying and selling goods for his employer. EXAMPLES. 1. What will the commission of 843% 10s. come to at cent. ? 5 per £42 3s. 6d. 2. Required the commission on 964 dols. 90 cts. at 21 per cent.? Ans. $21, 71cts. 3. What may a factor demand on 1 per cent, commission, for laying out 3568 dollars? Ans. 862, 44cts IS an allowance of so much per cent. to persons assisting merchants, or factors, in purchasing or selling goods. EXAMPLES. 1. What is the brokerage of 750l. 8s. 4d. at 6s. 8d. per cent. ? £. s. d. 750 8 4 7,50 8 4 20 10,08 12 11,00 2. What is the brokerage upon 4125 dols. ator 75 cents per cent.? Ans. $30, 93cts. 71⁄2m. 3. If a broker sells goods to the amount of 5000 dols. what is his demand at 65 cts. per cent.? 11* Ans $32, 50c 4. What may a broker demand, when he sells goods to the value of 508l. 17s. 10d. and I allow him 1 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, merchandize, &c. which may happen from storms, fire, &c. cent. ? EXAMPLES. 1. What is the insurance of 725l. 8s. 10d. at 12) per Ans. £90 15s. 71d. 2. What is the insurance of an East-India ship and cargo, valued at 123425 dollars, at 15 per cent. P Ans. $19130, 87cts. 5m. 3. A man's house estimated at 3500 dollars, was insured against fire, for 13 per cent. a year: what insurance did he annually pay? Ans. 861, 25cts. SHORT PRACTICAL RULES, For calculating Interest at 6 per cent. either for months, or months and days. I. FOR STERLING MONEY. RULE. 1. If the principal consists of pounds only, cut off the mit figure, and as it then stands it will be the interest for one month, in shillings and decimal parts. 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. EXAMPLES. 1. Required the interest of 54l. for seven months and ten days, at 6 per cent |