lower denomination, which makes a unit of the higher, and the product will be of the lower denomination. Proceed thus with the decimal in each succeeding product. .6526 20 13.0520 64. Reduce .6526 of a £ to its value in shillings, &c. We multiply the decimal of a £ by 20, to find the shillings, because, there are 20 times more shillings than pounds in any sum, whether the sum be a whole number or a decimal. The same reasoning also applies, in finding the pence, and the farthings. Answer, 13s. Od. 2qr.+ 12 .6240 4 2.4960 65. Reduce .4039 of a £ to its value in shillings, &c. 66. Reduce .857 of å shilling to pence and farthings. 67. Reduce .76 of a ton to cwt. qr. lb. &c. 68. In .2094 of a day, how many hours, minutes, &c. ? 69. In .57 of an acre, how many roods, rods, &c.? 70. Reduce £15.2908 to its proper expression in ounds, shillings, pence, and farthings. EXCHANGE OF CURRENCIES. In New England, Virginia, Kentucky, and Tennessee, of a dollar is called a shilling. In New York and North Carolina, of a dollar is called a shilling. In Pennsylvania, New Jersey, Delaware, and Maryland, of a dollar is called a shilling. 14 3 In South Carolina and Georgia, of a dollar is called a shilling. In Canada, of a dollar is called a shilling. In Great Britain, the shilling, of the Sterling currency, is equal to of a dollar. 71. How many cents and mills, that is, what decimal of a dollar, in a New England shilling? in 2 shillings? in 3 shillings? in 4 shillings? in 5 shillings? of the number expressing shillings, expresses an equal value in decimals of a dollar. 72. How many cents and mills in a New York shilling? in 2s.? in 3s.? in 4s.? in 5s.? in 6s.? in 7s.? 73. How many cents and mills in a Pennsylvania shilling? in 2s.? in 3s.? in 4s.? in 5s.? in 6s.? 74. How many cents and mills in a Georgia shilling? in 2s.? in 3s.? in 4s.? 75. How many cents and mills in a Canada shilling? in 2s.? in 3s.? in 4s.? in 5s.? 76. How many cents and mills in a shilling, Sterling, of Great Britain? in 2s.? in 3s.? in 4s.? To change the currencies of pounds, shillings and pence of every variety of value, to Federal money. RULE. Reduce the pounds, if there be any, to shillings. Denote the shillings as units, reduce the pence and farthings to the decimal of a shilling, and multiply the sum by that fraction of a dollar which is equal to one shilling. 77. Change 13s. 6d., of the old currency of New England, to Federal money. 13s. 6d. 13.5s. 13.5 x 2.25. 78. Change £42 19s. 4 d., of the old currency of New England, to Federal money. £42 19s. 4 d. = 859.375s. 79. Change 13s. 6d., of the old currency of New York, to Federal money. 80. Change £25 17s. 8 d., of the old currency of New York, to Federal money. 81. Change 18s. 11d., of the old currency of Pennsylvania, to Federal money. 82. Change £ 14 7s. 6 d., of the old currency of Pennsylvania, to Federal money. 83. Change 16s. 10d., of the old currency of Georgia, to Federal money. 84. Change £54 12s. 11 d., of the old currency of Georgia, to Federal money. 85. Change £21 9s. 3 d., of the currency of Canada, to Federal money. 86. Change £5 12s. 4d. Sterling, of Great Britain, to Federal money. III. PERCENTAGE. PERCENTAGE has already been explained in page 163. Since PER CENT. indicates hundredths, it is properly expressed in the first and second decimal places, taken together. Thus, 6 per cent. is .06; 12 per cent. is .12. Α fraction of 1 per cent. is expressed in decimals lower than hundredths. Thus, per cent. is .005; 4 per cent. is .0025; 6 per cent. is .065; 123 per cent. is .1275. Multiplying by a decimal, produces such a part of the multiplicand, as the decimal indicates. Therefore,— TO FIND THE PERCENTAGE ON ANY SUM,- Multiply the sum by the decimal which denotes the rate per ceni. 1. A merchant having $1426 in the bank, drew out 5 per cent. of it. What sum did he draw? 1426 .05 $71.30 Since 5 per cent. of any quantity is 15 of 2. What is 1 per cent. of $100? of $834? 6. What is 24 per cent. of 1852 dollars? When the rate is a fraction of 1 per cent. First, re Juce the rate to a decimal, by multiplying .01 by the fracThen multiply by the decimal rate as before. tion. 7. What is per cent. of 234 dollars? 8. What is 9. What is 10. What is 2 per cent. of 190 dollars? 11. What is 6 12. What is 10 13. Find 7 per cent. of 344 dolls. When there is a fraction in the 344÷100=3.4 4 in this example-we first find 1 per cent. of the given sum, by dividing it by 100, and then multiply this 711 2408 1142 $25.223 quotient by the mixed number that expresses the rate. 14. What is 4 15. What is 6 16. What is 3 17. What is 9 per cent. of 624 dollars? per cent. of 2310 dollars? 24.32 .07 $1.7024 18. What is 7 per cent. of 24 dolls. 32 cts.? Here we have cents [decimals] in the number on which the percentage is to be taken. We however multiply as usual in decimals, and the first two decimal figures in the prodict express cents, the third mills, the fourth tenths of a mill. 19. What is 14 per cent. of $641.94 ? 20. What is 4 per cent. of $37.26 ? 21. What is 11 per cent. of $150.75 ? To find what per cent. a smaller number is of a larger,Consider the smaller number as a numerator, and the larger as a denominator of a fraction; then reduce this fraction to a decimal. See page 188. 22. If a man, having $94 deposited in bank, draw out $25, what per cent. of his deposit does he draw? 25 is of 94. Then 3.26. Ans. 26 per cent. 23. What per cent. of 240 dollars is 32 dollars? 24. What per cent. of 12 dollars is 7 dollars? 25. What per cent. of $95.21 (9521 cts.), is $4.22? To find a percentage of a compound number,-Multiply by the rate per cent., as a whole, or mixed number, and divide the product by 100, or the factors of 100. 26. What is 6 per cent. of £22 10s. 9d.? 27. What is 4 per cent. of £41 15s. 6d. ? 28. What is 3 per cent. of £8 16s. 8d.? COMMISSION. COMMISSION is the compensation made to factors and brokers for their services in buying or selling. It is reckoned at so much per cent. on the money employed in the transaction. 29. What is the commission on $500, at 2 per cent. ? 30. If I allow my factor a commission of 3 per cent. for disbursing 725 dollars 50 cents, on my account, what does 'his commission amount to? 31. How much does a broker receive for his services on a sale of stocks amounting to 52648 dollars, allowing his commission to be of 1 per cent. ? STOCKS. STOCK is a property, consisting in shares of some establishment, designed to yield an income. It includes government securities, shares in incorporated banks, insurance offices, factories, canals, rail-roads, &c. The par value of a share, is what it originally cost; and the real value, at any time, is what it can be sold for. When it will sell for more than it originally cost, it is said to be above par, and the excess is stated at so much per cent. advance. When its real value is less than the original cost, it is below par, and is sold at a discount. 32. Sold 10 shares in the Manufacturers' Insurance Company, at 5 per cent. advance, the par value of a share being 100 dollars. How much did I receive? 33. Bought 15 shares in the Boston Bank, at of 1 per cent. advance, the par value being 50 dollars a share. How much did I give for them? 34. Sold 64 shares in the State Rail-road, at 14 per cent. discount, the par value being 100 dollars a share. How much did I receive for them? INSURANCE. INSURANCE is security given, to restore the value of ships, houses, goods, &c., which may be lost at sea, or R |