36. Find the amount of $5, for 12 days. Ans. $ 5.01. 37. Find the amount of $75.60, for 8mo. 29d. Ans. $78.989. 38. Find the amount of $3000, for 2y. 8mo. 39. Find the amount of $230, for 7y. 6mo. Ans. $333.50. 40. Find the interest of $394.27, for 8y. 23d. 197. In all the previous examples, the interest has been computed on the basis of 6 per cent. In Ex. 42, we first cast the interest at 6 per cent, as before, and find it to be $17.001; this we divide by 6, which gives the interest at 1 per cent; and lastly, we multiply this interest by 7 and have the interest at 7 per cent$19.83+. 42. What is the interest of $164, for ly. 8mo. 22d. at 7 per cent? Ans. $19.83+. 43. What is the interest of $270.60, for 3y. 11mo. 19d. at 8 per cent? Ans. $85.93. 44. What is the interest of $492.75, for 2y. 7mo. at 71 per cent? 45. Find the interest on $75.87, for 5y. 3mo. at 9 per cent. Ans. $35.848. 46. Find the interest on $ 894.20, for 3y. 6mo. 15d. at S per cent. Ans. $253.35.+ 47. Find the amount of $382.85, for 4y. 10mo. at 9 per cent. 48. Find the amount of $69.47, for 3y. 8mo. at 6 per cent. Ans. $86.02. 19. How is interest found for any other rate than 6 per cent? Explain the steps. How is the difference of time between two dates found? 49. Find the interest of $ 609.42, for 8y. 7mo. 6d. at 4 Ans. $209.64. per cent. 50. Find the interest on $493.85, for 2y. 3mo. at 3 per cent. Ans. $ 38.89. 51. Find the interest on $ 6000, for 8y. 7mo. 17d. at 51⁄2 per cent. 52. What is the interest of $ 64.82 from June 24, 1856, to Oct. 9, 1859 ? Ans. $12.80. = 3y. 3m. 15d. NOTE. First find the difference of time 53. What is the interest of $85.93 from Jan. 6, 1850, to June 1, 1854 ? 54. What is the interest of $ 942.87 from Aug 13, 1861, to Nov. 7, 1864? Ans. $182.91. 55. What is the interest of $ 293.80 from Feb. 19, 1860, to Sept. 4, 1863 ? Ans. $1013.12. Ans. $62.43. 56. What will $ 843.92 amount to, from Aug. 28, 1862, to Jan. 1, 1866 ? 57. What is the interest of $ 59.75 from Dec. 29, 1858, to June 7, 1861, at 7 per cent? Ans. $10.92. 58. What will be the amount of $642.90 from July 4, 1862, to the day of Gen. Lee's surrender? 59. Find the interest of $8942, from the fall of Fort Sumpter to the evacuation of Richmond? PROFIT AND LOSS. 198. PROFIT AND Loss, are commercial terms, used to indicate the gain or loss in buying and selling goods, and in business transactions generally. 198. What is Profit and Loss? CASE 1. 199. To find the absolute gain or loss on a quantity of goods sold at retail, the purchase price of the whole quantity being given. Ex. 1. Bought 2001b. of coffee for $50 and sold it at $.40 per lb.; how much did I gain on the whole? $200. X .40=$ 80.; 80- 50.30. Hence the Ans. $30. RULE. Find the whole sum received for the goods, and the difference between this and the purchase price will be the gain or loss. 2. Bought 32 yards of cloth for $ 48 and sold it at $2.20 per yard; what was my whole gain? Ans. $ 22.40. 3 Bought 4cwt. 3qr. 161b. sugar for $61.375, and sold it at $.20 per lb. How much did I make on the whole? 4. Bought 960 oranges for $19.20 and sold them for 5 cents apiece; what was my entire gain? 5. Bought 15 doz. pencils at $ 1.20 per doz. and sold them at $.15 each; what did I make ? CASE 2. 200. To find the per cent of gain or loss when the cost and selling price are given. Ex. 1. Bought 12 yards of cloth for $18. and sold it at $2.50 per yd. What was my whole gain, and what my gain per cent? 199. Rule for finding absolute gain or loss? 200. Rule for finding the per cent of gain or loss on the cost price? $2.50 Selling price. 12 yards. 3 0.0 0 18 Sum rec'd. = Cost. We first find the whole gain to be $12 which is 1 of the cost. This we reduce to a decimal, and have .66; i. e., the gain $12, is Whole gain. 663 per cent of the cost $ 18. Hence, 13=3.663. the following. $12 = RULE. Having found the total gain or loss by Case 1, make a common fraction by writing the gain or loss for the numerator and the cost of the article for the denominator, and then reduce this fraction to a decimal. 2. Bought a gross of steel pens for $ 1.20, and sold them at 1 cent apiece. What was my gain per cent? Ans. 20%. 3. I purchased 1 bushel of cherries for $ 3, and sold them at 15 cents per quart. What was my gain per cent? 4. Sold a horse for $100 which cost me $ 150. What was my loss per cent? 201. CASE 3. To find the selling price, the cost and gain or loss per cent being given. Ex. 1. Bought cloth at $6 per yard and wish to sell it at an advance of 20%. What is my selling price? $6.00 $7.2000, Ans. I shall sell what cost me $ 1. for $1.20 and what cost me $6 for six times $1.20 =7.20. Ex. 2. Bought goods for $ 300, but they being damaged I am willing to sacrifice 15 % of their value; for what shall I sell them? 201. Rule to find the selling price, the cost and gain or loss per cent being $300. .85 1500 2400 $255.00 If I lose 15%, I shall sell what cost me $1. for $.85, and shall sell what cost me $300. for 300 times $.85$255. Hence, we have the following RULE. Multiply the cost by 1 minus the Loss or plus the GAIN PER CENT, and the product will be the selling price. 3. For what must I sell sugar that cost me 15 cents per pound, to gain 30% ? Ans. $.192. 4. Bought a pair of skates for $ 4.00; for how much must I sell them to gain 10% ? CASE 4. 202. To find the first cost of an article, the selling price and gain or loss per cent being given. Ex. 1. Sold wine at $6 per gal. and by so doing I made 20 per cent on the cost; what was the cost? 128=& $6.X $5. cost. That which cost $1. sold for $ 1.20, therefore, the cost was 120 of the selling price; hence, the cost was of $ 6.= $5. Hence we have the following RULE. Make a fraction by writing 100 for the numerator and 100 minus the loss or plus the gain per cent for a denominator, then multiply the selling price by this fraction. 2. Flour selling at $15 per bbl., yields a profit of 25%; what is the cost? Ans. $12. 3. Sold 8 yards of cassimere at $3 per yd., and made 20% by the sale; what was the cost? Ans. $2.50 per yard. 4. Bought a quantity of wheat, but it being damaged, I sell it at $1.50 per bushel, and by so doing lose 25 per cent on the cost; what was the cost? Ans. $2.00. 202. Rule for finding the cost, the selling price and gain or loss being given? |