934. Oral Exercises.

1. In what time will $100 amount to $109, at 6% interest? 2. At what rate will $200 produce $16 interest in 2 years? 3. What principal will produce $ 12 interest in 3 years, at 4%? 4. In what time will $300, at 4%, produce $29 interest? 5. In what time will $170 produce $1.70 interest, at 5%? 6. In what time will $360 produce $3.60 interest, at 4%? 7. In what time will $725 produce $7.25 interest, at 6%? 8. In what time will $45 produce 45% interest, at 41%? 9. In what time will $72 produce $1.44 interest, at 6%? 10. Find the interest on $84 for 144 days, at 5%. 11. Find the interest on $125, at 5%, for 2 months 12 days. 12. At what rate will $64 produce 64 interest in 80 days? 13. At what rate will $40 produce $1.20 interest in 6 months? 14. A certain principal produces $120 interest, at 6%. What would be the interest if the rate were 4%?

INTEREST BY ALIQUOT PARTS.

936. Slate Exercises.

7%.

1. Find the interest on $387.45, for 2 yr. 8 mo. 18 da., at

2. Find the interest on $432.90, at 6%, for 1 yr. 7 mo. 12 da.

3. Find the amount of $874.16, at 5%, for 1 yr. 9 mo. 4 da.

4. What is the amount of $95.72, for 3 yr. 6 mo. 20 da., at

5%?

(10%) %

1 yr.(of 2 yr.)
6 mo. = yr.

20 da.? of 6 mo.

$95.72 principal.

9.572 interest for 2 yr.
4.786 interest for 1 yr.

interest for 6 mo.

interest for 20 da.

amount for 3 yr. 6 mo. 20 da.

5. Interest of $1,806.45, at 4%, for 1 yr. 7 mo. 25 da.

1 yr., 6 mo., 1 mo., 15 da., 5 da., 5 da.

6. Interest for 10 mo. 29 da., at 4%, on $380.40.

7. Amount, at 6%, of $125.73, for 2 yr. 10 mo. 4 da. 8. Interest on $84.66, at 7%, for 1 yr. 4 mo. 12 da.

9. Interest, at 5%, for 4 yr. 2 mo. 7 da., on $250. 10. Amount of $1,000, at 6%, for 33 days.

937. When the time is less than a year, the following facts should be remembered:

6% for a year is 1 per cent for 60 days.
5% for a year is 1 per cent for 72 days.
41% for a year is 1 per cent for? days.
4% for a year is 1 per cent for? days.

11. Find the interest for 81 days, at 5%, on $876.40.

72 days = 1%
= }

= $8.764

9 days (of 72 da.) = 1.095

$9.86 interest for 81 days.

12. Amount of $954, at 4%, for 4 mo. 10 da.

13. Interest of $1,874, at 41%, for 93 days.

80 days = 1%.

10 days

2 days

1 day

14. Interest of $753.20, at 5%, for 158 days.

72 da., 72 da., 12 da., 2 da.

15. Amount of $1,234.50, for 193 days, at 6%. 60 da., 120 da., 12 da., 1 da.

16. Find the proceeds of a 90-days note, for $873.60, at 6%.

17. Find the discount on a 3-months note, for $1,596, at 6%. 18. What are the proceeds of a 6-months note, for $785, discounted at 6%.

19. Find the interest on $484.40, for 1 yr. 3 mo. 17 da., at 7%. 20. Find the amount of $683, for 3 yr. 4 mo. 11 da., at 41%.

21. Principal, $360; 5%; 3 yr. 7 mo. 18 da. Interest? 22. Principal, $613; 41%; 157 da. Amount?

23. Principal, $1,774; 33%; 17 mo. 23 da. Interest?

24. Principal, $875; 6%; 2 yr. 3 mo. 1 da. Amount?

25. Principal, $976; 7%; 325 da. Interest?

939. By the time of a note is meant the number of days, etc., for which it is drawn. Find the discount for three additional days.

26. Face of note, $254; time, 30 days; 7%. Proceeds?

27. Face of note, $515;

28. Face of note, $493;

time, 6 months; 5%. Discount?

time, 60 days; 8%. Proceeds?

29. Face of note, $717; time, 15 days; 61%. Discount? 30. Face of note, $1,000; time, 90 days; 4%. Proceeds?

940. Find the exact number of days. Take 360 days to year. 31. Principal, $1,836.50; 6%; Jan. 2 to Dec. 1. Amount? 32. Principal, $1,295.70; 7%; March 8 to April 9. Interest?

33. Principal, $1,433.11; 5%; Feb. 13 to Sept. 4. Amount? 34. Principal, $765.90; 4%; Oct. 1 to Dec. 17.

35. Principal, $275.84; 51%; May 9 to July 3.

Interest?

Amount?

941. By the term of a note is meant the number of days it has to run after it has been discounted, including days of grace.

36. Face of note, $100; term, 63 days; 7%. Discount? 37. Face of note, $200; term, 93 days; 61%. Proceeds? 38. Face of note, $300; term, 24 days; 51%. Discount? 39. Face of note, $400; term, 117 days; 8%. Proceeds? 40. Face of note, $500; term, 88 days; 5%. Discount?

942. In examples 41-45, inclusive, find the time by compound sub

traction.

41. Principal, $25.83; 6%; Jan. 14, 1892, to Sept. 5, 1894. Interest?

42. Principal, $47.96; 5%; Feb. 6, 1893, to Aug. 1, 1896. Amount?

43. Principal, $85.30; 7%; March 25, 1894, to Jan. 13, 1897. Interest?

44. Principal, $75.00; 4%; April 15, 1888, to Feb. 6, 1895. Amount?

COMMERCIAL DISCOUNT.

944. Slate Problems.

1. On a bill of goods amounting to $874.40, a discount of 5% is allowed. How much must be paid?

$874.40

5%-20 43.72

$830.68 Ans.

Divide by 2, placing the quotient figure one place to the right of the corresponding figure of the dividend.