Business Arithmetic

What are the proceeds of these notes, if the bank discounts them at 5%? (Add 4 days' time in discounting to allow for time in transit.)

34. A farmer ships a car containing 38762 lb. of potatoes to a broker, who sells them for 82¢ per hundredweight. Freight charges are $73.20, and the broker charges a commission of 2%. What amount is returned to the farmer? 35. The Detroit Times shows the following circulation for one month:

(a) Find the total circulation for each week.

(b) Find the total circulation for each day in the week. (c) Find the total circulation for the month.

(d) What is the average circulation per day? (e) What day is nearest the average?

36. Which of two salesmen, A and B, whose yearly sales are given below, returns more profit to his firm?

A sells $225,000 worth, showing an average profit to the firm of 11% of his sales; cost of collections is %, selling expenses, $6450.

B sells $260,000 worth at an average profit of 10% of his sales; cost of collection, %, selling expenses, $7200.

37. A company issues $100,000 7% preferred stock, and $100,000 of common stock. It earns in one year $28,762.20. What amount can be added to the surplus if it pays 11% dividends on the common stock, and charges $3333.33 to depreciation of plant and equipment?

38. If the advertising expense incident to the sale of an article is $10,000, and this expense is divided among manufacturer, jobber, and retailer according to the profits of each, what part will be paid by each, if the profits are, respectively, 22 %, 13%, and 15% ?

39. A merchant buys $15000 worth of goods at 2%-10, net 60. How much will he save by borrowing the money for 30 da. at 6% in order to discount the bill?

40. If a retailer sells an article for $12.50, showing 20% profit on the selling price, at what can he afford to sell it if he is willing to take only 10% profit on the cost?

41. Find the difference between simple interest and compound interest on $9375 for 10 yr. at 6%.

42. An agent sold for his principal goods to the amount of $10,000, charging 3% commission. He invested the proceeds in wheat after deducting a commission of 2% for buying. If he paid 90% per bushel for the wheat, how many bushels did he buy?

43. The average circulation of the Boston Daily Post for August was 418,562, a gain of 59,056 copies per day over August in the previous year. What per cent of increase is

shown?

44. In 1912 the population of the United States was approximately 95,000,000. The family expenditures were as follows:

ARTICLE
Food
Clothing

Intoxicants

AMOUNT
$8000000000

3000000000

2000000000

(a) What per cent of the total expenditure was spent for tobacco and intoxicants combined?

(b) What is the total expenditure on these items for each person in the United States ?

45. A dealer sold a buggy for $98, an advance of 163 % over the cost. If he extends to the purchaser credit for 6 mo. without interest, what was his real per cent of gain, money being worth 6% ?

46. An agent sells 80,000 lb. of wheat at 90 per bushel. He accepts a 60-day note, which, when discounted at 5%, pays the bill. What is the face of the note?

47. A owes four bills which he pays by New York drafts, the amounts being as follows: $49.50, $236.75, $158.76, and $61.10. If exchange is %, what exchange does he pay?

48. A buys goods to the amount of $4586.90, less 3% for cash. He holds B's 30-day acceptance for $1200, and C's 60-day note for $2256.30 at 5%. If A discounts the acceptance and the note at 5%, and remits the full amount of his purchase by bank draft, exchange being 1%, what does he save by paying cash?

49. A man has $25,050 to invest. Which will yield the more in one year, Norfolk and Western R. R. at 167, no brokerage, paying 5% dividends, or a deposit in a savings bank at 3% interest yearly?

50. A business property is valued at $200,000. If the owner pays 11% taxes, and allows 10% of the earnings for depreciation of the building, for how much must he rent it to clear 7% on his investment?

APPENDIX

THE METRIC SYSTEM

The metric system is a decimal system of weights and measures. The United States Government requires the use of the metric system of measures in all medical work of the navy and war departments, and in the public health and marine hospital service.