21. When gold was at 1023, I received interest at the rate of 3% in gold on twelve $1000 U. S. bonds. What was the value of my interest in paper money?

NOTE. See page 199, Art. 500.

22. In 1877, I purchased some U. S. bonds at 106, which yielded an interest of 6 % per annum payable semi-annually in gold. Gold being at a premium of 3 %, what per cent of my investment in paper money did I receive semi-annually?

23. Which yielded the greater per cent semi-annually and how much, U. S. bonds at 110 bearing interest at 6 % payable semi-annually in gold, gold at 102, or a mortgage on real estate paying 3% semi-annually?

24. How much money must be invested in U. S. 41's to yield a quarterly income of $225, bonds selling at 1051?

624. General Review, No. 5.

25. By losing 3 cents per lb., I lose 12% of the cost of butter. If I had lost 4 cents per lb., what % should I have lost? 26. What is the simple interest of $ 300 from May 5, 1876, to Feb. 2, 1878, at 11% a month?

27. I hold a note for $ 500, which bore interest at 7 % from May 10, 1875. Sept. 16, 1875, received $140; July 28, 1877, received $50. What remained due Sept. 3, 1877 ?

28. If I pay $45 interest for the use of $500 for 3 years, what is the rate per cent?

29. How long must $204 be on interest at 7 per cent to amount to $217.09 ?

30. What principal will gain $9.20 in 4 mo. 18 d., at 4 % ? 31. What sum, at 7 per cent, will amount to $221.075 in 3 yrs. 4 mo. ?

32. At 6%, what is the compound interest of $600 for 1 yr. 4 mo., interest payable semi-annually?

33. What is the present worth of a note for $488.50, due in 2 yrs. 5 mo. 15 d., at 9 per cent ?

34. What is the true discount of $105.71, due 4 yrs. hence, rate 6 % ?

35. What is the bank discount of $450 for 30 days and grace at 5% ?

36. What are the avails of a note of $100 given for 27 days, and discounted at a bank at 6%?

37. For what must a 60-days' note be given, which, discounted at a bank at 6%, will yield $1295 ?

38. A debtor owes $ 200, due in 2 months, in 3 months, and the remainder in 5 months. What is the equated time for paying the whole?

39. A man about to travel in England bought a bill for 257 pounds sterling. Exchange being $4.85%, how much money did he pay for the bill?

625. Miscellaneous Examples.

40. What is 124% of 5 T. 300 lbs. ?

41. What is the amount at 6%, simple interest, of $ 38.75, from Aug. 5 to Nov. 10?

42. What is the amount of $380.25, at 6% compound interest, for 2 yrs. 5 mo.?

43. How much ought a broker to charge me for 5 shares of stock purchased for me at 7% advance, shares having originally been $500, his brokerage at % included?

44. What will be the length and breadth of a piece of cloth, originally 21 yards long by 1 yard wide, after sponging, if in that operation it shrinks 4% in length and 6% in width?

45. A commission merchant receives $ 544; of this he is to invest such a portion as remains after deducting his commission of 21% on the investment. What is his commission, and what will remain ?

46. What is the cost of insuring $ 2500 at $17.50 on $1000? 47. If of a sum of money be due in 2 months, in 4 months, in 3 months, and the remainder in 4 months, at what time might the whole be paid without loss to the debtor?

48. A dealer has 18 barrels of sound apples remaining in a lot of which 10% have decayed. If his lot cost him $1.50 per

bbl., would he gain or lose on the lot, and what %, by selling the remainder at $1.75 per bbl. ?

49. What will be the net loss to an insurance company in case of the loss by fire of a property insured for $4500, on which the company had received 3% premium, no allowance for interest?

50. What must be paid for a policy to cover $2575 at a premium of 14%?

51. What per cent of 1 bushel is 1 peck 2 quarts ?

52. In what time will a sum of money double at 2% simple interest?

53. A person lent a certain sum for 1 yr. 6 mo. at 5%. The interest being $ 9.30, what was the sum ?

54. What principal will amount to $63.25 in 1 yr. 3 mo. at 8%?

55. A merchant imports from Hamburg a bale of cloth, containing 12 pieces of 40 yards each; the cloth, with charges there, cost him $480; he pays a duty here of 35 cts. per yd., freight $28.50, and other charges $7.11. At what must he sell the cloth per yd. to gain 10% above all charges?

56. In the year 1872 the town of B voted to raise, by taxes, $97290; of this was levied upon the polls; the valuation of the town was $10134375. What was the tax on $1, and what was the tax of a non-resident who owned a house in town valued at $2000?

57. What must be the face of a note, which, discounted at a bank for 30 days and grace, would yield $500 ?

58. On a note for $2500, dated Sept. 5, 1875, were paid $50 January 29, 1876, and $500 July 1, 1877. The note being on interest at 6% from its date, what was due Sept. 5, 1877?

59. Paid $18.77 for insuring my schooner at a premium of %. What was the sum covered?

60. What is the par value of stock, which, selling at 25% above par, brings $500?

$150.25.

CHICAGO, Jan. 5, 1876. On the fifteenth of May, 1876, I promise to pay to the order of B. F. Archer, One Hundred and Fifty Dollars; value received. D. D. CORWIN.

61. If the holder of the above note has it discounted at a bank Feb. 15, 1876, at 6%, what will he receive ?

62. What is the true present worth of the above note at its date, rate 7%?

63. If the note above was unpaid when due, and drew interest at 6% from the time it became due, what would settle it Oct. 27, 1876?

64. Find the amount of the above note at compound interest at 5% from the time it became due till Oct. 27, 1881 ?

626. Questions for Review.

What is PERCENTAGE? What is the base? the amount? the remainder? rate per cent? Express and its complement decimally. How do you change a fraction to a per cent? a per cent to its lowest terms? How do you find a percentage of a number? the amount? the remainder? the base? the rate per cent? Give the formula for finding the percentage; the amount; remainder; base; rate per cent. Upon what is the percentage of PROFIT or LOSS reckoned? If goods cost 24 cents, for what must they be sold to gain 8%? to lose 16%? What per cent would be gained or lost by selling goods that cost 24 cents for 30 cents? for 21 cents? If 24 cents is 20% less than the value of goods, what is the value? If 24 cents is 331% more than the value of goods, what is the value? If 18 cents is 10% less than cost, for what would you sell goods to gain 10%? to lose 25%? If 10% of what you receive for goods is gain, what is your gain per cent? What is COMMISSION? Who is the factor? the consignor? the consignee? What is meant by net proceeds?

What is a company? a corporation? capital STOCK? a certificate of stock? Who are stockholders? What is an assessment? a DIVIDEND? a stockbroker? BROKERAGE? When are stocks above par? below par? Upon what is the per cent of commission or brokerage estimated ? How do you find what sum is to be expended when a remittance contains that sum together with the commission?

What is INSURANCE? a policy? a premium? Who are underwriters? What is expectation of life?

What is a TAX? a poll tax? real estate? personal property? Who are assessors? How do you find the tax to be assessed on a dollar in any town?

What are CUSTOMS or DUTIES? What is a specific duty? an ad valorem duty? gross weight? net weight? In estimating specific duties, what allowances are made?

What is INTEREST? what is the principal? the amount? What is meant by the rate, in interest? What is legal rate? usury? simple interest? Give your method of computing interest. How do you find accurate interest?

What is a promissory note? What is the face of a note? What are PARTIAL PAYMENTS? Where is the record of payments made? What is the United States rule for partial payments? What is the merchant's rule?

What three factors are used to find interest? The interest, principal, and rate being known, how do you find the time? The interest, principal, and time being known, how do you find the rate? The interest, rate, and time being known, how do you find the principal ? What is the dividend in each case? The amount, rate, and time being known, how do you find the principal?

What is the PRESENT WORTH of a debt? What is discount? Give a rule for finding present worth. How do you find discount? How can you prove the work?

What is BANK DISCOUNT? What are days of grace? avails of a note ? Which is the larger, true or bank present worth? true or bank discount? Describe the process of getting a note discounted at a bank. What is indorsing a note? How do you find the face of a note, which, discounted at a bank, will yield a certain sum?

What is COMPOUND INTEREST? How often may interest be compounded? For how many periods of time will interest be compounded in 2 y. 9 mo., if it is compounded semi-annually? quarterly ?

How do you find the average time for paying several bills due at different times?

What is EXCHANGE? what are drafts or bills of exchange? Who are the parties to a draft? who is the holder? When are drafts at a premium? at a discount? Where can you find rates of exchange? What are BONDS? What is a coupon ?