32. If I invest $6000 in a common stock, and the stock fall 24 per cent., what would my share be worth? Ans. $5865.

33. A bought 3 shares of stock for $625,50, after the purchase the stock fell 3 per cent.; what was A's loss? Ans. $20,85.

Note 4.-When interest is required for 2, 3, 4, &c. years, multiplying the interest for one year by the number of years must give it, for the product will contain the multiplicand, which is the interest for one year, as many times as there are years in the multiplier.

34. What is the interest of $127 for 2 years, at 5 per cent.? Ans. $12,70. 35. What is the interest of $1703,78 for 3 years, at 6 per cent. ? Ans. $306,68+. 36. What is the interest of $21 for 4 years, at 7 per cent.? Ans. $5,88. 37. What is the amount of $700,50 for 6 years at

6

per

cent. ?

See definition 5, Sect. 8.

Ans. $952,68.

38. What is the interest of 91 cents and 3 mills for 5 years, at 8 per cent. ? Ans. $0,365+. 39. What is the amount of two hundred thirtytwo dollars and seven cents for 3 years, at 51 per cent. ?

Ans. Two hundred sixty-eight dollars, sixty-two cents and 1,2 mills.

40. What is the amount of $1019,17 for 3 years, at 5 per cent. ? Ans. $1172,045+.

Note 5.-When interest is cast at 6 per cent., it is 6 per cent. for 12 months, which is 1 per cent. for 2 months; the per cent. for 1 month must therefore be 1, or per cent.; for 3 months, 1, or 1, 5 per cent.; for 4 months, 2 per cent., &c. It thus appears that when the rate is 6 per cent. for 12 months, the rate of any time will be half of the number of months,

Τ

Remark.-,, &c. per cent., used in reference to Federal money, is 1, 1, &c. of 1 cent or of a dollar; therefore when we multiply by a part of one per cent., if the place of tenths and hundredths are not supplied with ciphers, there must be two more decimal places in the product than those in the multiplier and multiplicand.

41. What is the interest of $720 for 8 months, at 6 per cent. ?

720
,0 4

$28, 8 0 Ans.

42. What is the interest of $1005,50 for 11 months, at 6 per cent.?

100 5,50
,0 5 5

50275 0

50 2750

$55,30 250 Ans.

The per cent. for 10 months is 5, and for 1 month, 5 tenths of 1 per cent.

43. What is the interest of $325,54 for 13 months, Ans. $21,16+. at 6 per cent.? 44. What is the interest for 74 cents for 1 year and 5 months, at 6 per cent.?

Ans. $0,062+. 45. What is the amount of $100,10 for 14 months, Ans. $10,807. at 6 per cent.?

12

Note.6- of 365 is 30, 4 days. As all the Calendar months in a year, except February, have either 30 or 31 days, in casting interest on small sums, it will be sufficiently accurate to call each month 30 days. 6 days are of 60, since 60 con

tains ten 6's; therefore dividing any number of days less than 60 by 6, the quotient will be a decimal of 1 per cent., or the per cent. for the days.

The most convenient method of finding the per cent. for any number of months and days, is to add 30 days for the odd month (if any) to the given number of days; divide the sum by 6, and annex the quotient to half the even number of months, which will give the per cent. for the given months and days.

46. What is the interest for 69 dollars and 27 cents for 9 months and 24 days, at 6

3,394 2 3

per

cent. ?

Explanation. The per cent. for 8 months is 4, and .for the odd month and 24 days, or 54 days, is

of 1

per cent.; or in other words, the per cent. for the whole time is 4 cents and 9 mills. Ans. $3,394+.

The student will find little difficulty in ascertaining the per cent. for any months and days, when he reflects that the per cent. for two months is 1 per cent., and for every 6 days 1 mill.

47. What is the interest of $117 for 15 months and 15 days, at 6 percent.? Ans. $9,067+. 48. A note of $121 was given January 3, 1825, and paid January 15, 1826. The interest was cast at 6 per cent.; what was due on the note at the time of settlement?

For finding the time, see Explanation, page 107.
Ans. $128,502.

49. D gave a note for 200 dollars and 98 cents, July 7, 1823, and paid it July 1, 1825; what was the interest on said note at 6 per cent.? Ans. $23,916

50. A merchant bought goods to the amount of $975, January 31, 1824, for which he gave his note on interest after 90 days. What was there due on said note, August 1, 1826, allowing interest at 6 per cent.? Ans. $1106,625. 51. What is the interest of $133 for 8 months and 15 days, at 5 per cent. ?

1 3 3 ,0425

6 € 5

266 532

6) 5,6 5 2 5 9420

Explanation.--$5,6525

is the interest at 6 per cent., and part of the interest at 6 per cent., which is 94 cents and 2 mills, is the interest at 1 per cent., therefore the difference between $5,6525 and $0,9420 is the interest at 5 per cent. Had the interest been 4 per cent., twice the interest at 1 per cent., or at 6 per cent., should have been subtracted. When the interest is more than 6 per cent., take corresponding parts and add them.

$4,7 1 0 5 Ans.

52. What is the interest of 26 cents for 7 months and 29 days, at 7 per cent.?

Explanation.-When there is a remainder in taking of the days, it will not be necessary to carry the decimal farther than hundredths of one per cent. ? Ans. $0,012+.

53. A gave a note April 27, 1824, for $100, at 8 per cent. interest, with the following condition,-that if the note were paid within 11⁄2 years, the rate should be reduced to 6 per cent. The note was paid January 30, 1826; what was due on the note at that time? Ans. $114,066+.

54. What is the interest of $38 for 8 months, at 6 per cent.?

Explanation. The interest for one year is $2,28. 6 months equal, and 2 months of a year, thereforeand of $2,28 added together, is the interest for 8 months.

55. What is the interest of $70,09 for 11 months 15 days, at 4 per cent.?

Explanation.-80,9345 is the interest for 4 months, and $0,2336 interest for 1 month. 15 days equal of a month, therefore of $0,2336 is the interest for 15 days.

56. What is the interest of $62,25 for 3 years, 11 months and 21 days?