87. I purchased 200 head of cattle at $40.25 per head; 100 head at $39.75, and 50 head at $40. I sold them for $15770.25. What % of gain was made?

88. A merchant purchases goods to the amount of $6500. Freights and other expenses amounted to $200. For how much must he sell these goods to make a profit of 20% after allowing 10% for bad debts?

89. Transportation on an invoice of goods was 20% of the cost of the goods. The goods sold for 25% gain on full

cost. The gain was $4500.

90.

What was the full cost?

Sold a watch for $96, gaining 20%. With the proceeds I purchased another which I sold at a loss of 123%. What was my gain or loss % by both transactions?

114. Considering each of the following columns as a separate question, if the terms marked are given, how may the term marked ? be found?

COMMISSION AND BROKERAGE.

115. COMMISSION or BROKERAGE is an allowance made to an agent for transacting business for another; as, for buying or selling property, for collecting or investing money, etc.

116. The agent is generally known in business as a COMMISSION MERCHANT, or a BROKER, and the person for whom he acts is called the PRINCIPAL.

NOTE. The COMMISSION MERCHANT usually takes possession of the goods bought or sold, and operates in his own name. A BROKER does not have possession of the goods, but is simply the means of making contracts in the name of his PRINCIPAL. The term BROKER is generally applied to one who buys stocks, bonds, bills of exchange, notes, etc.

117. The GROSS PROCEEDS of a sale is the sum received by the agent for the goods.

NOTE. The agent's commission is computed at a certain rate % on the gross proceeds, and is the first expense of the sale to be deducted. What is left after deducting the commission and other expenses is called the Net Proceeds.

118. The NET, or PRIME COST, is the cost of the goods before commission or other expenses have been added.

NOTE 1. The agent's commission is computed at a certain rate % on the net cost, and is the first expense to be added. The sum of net cost, commission, and all other expenses is called the GROSS COST.

NOTE 2. - When an agent sells goods and has the net proceeds in his possession, he is sometimes ordered to invest the money he holds in goods to be consigned to the principal. In this case, if he is to pay expenses, he first deducts the estimated expenses, and then divides the remainder by 100%+ his rate of commission. The quotient is the net cost. His commission is the difference between the quotient and the dividend. In other cases (when the agent holds none of the principal's money) it is customary for the agent to purchase and charge the principal with the commission, while the person who sold the goods renders his bill and draws on the principal for the amount.

119. GUARANTY is a percentage paid the agent in addition to his commission for becoming responsible for the payment for goods sold.

120. Commission and Brokerage is an application of the principles of Percentage. The GROSS PROCEEDS, or NET COST, is the BASE; the Commission is the Percentage.

NOTE. - Sometimes the commission is not found at a per cent. of the value, but at so much per unit of quantity, as, grain per bushel, cotton per bale, etc.

121. Given the Purchase or Sales and the Rate % to find the Commission or Brokerage.

FORMULA.
RULE.

Purchase or Sales X Rate % Commission or Brokerage. Multiply the amount of the Purchase or Sales by the Rate %, and the product will be the Commission or Brokerage.

-

122. Given the Purchase or Sale, and Commission or Brokerage to find the Rate %.

FORMULA.

Rate %.

RULE.

Commission or Brokerage Amount of Purchase or Sales =

Divide the Commission or Brokerage by the amount of Purchase or Sales, and the quotient will be the Rute %.

123. Given Commission or Brokerage and the Rate % to find the Purchase or Sales.

FORMULA. or Sales.

RULE.

Divide the Commission or Brokerage by the Rate %,

and the quotient will be the amount of Purchase or Sales.

124. Given the sum expended or Net Proceeds and the Rate % to find the Purchase or Sales.

Sum expended ÷ (100% + Rate %) Amount of Pur-
Net Proceeds ÷ (100%
Rate %)
chase or Sales.

=

RULE.

Divide the sum expended by 100% + the Rate % of Commission or Brokerage, or divide the Net Proceeds by 100% minus the Rate % of Commission or Brokerage, and the quotient will be the amount of Purchase or Sales.

125. To find the net amount to be invested when the agent has the purchase money: From the sum given deduct

all known expenses other than Commission, and divide the remainder by 100% rate of Commission or Brokerage.

126. To find gross cost of a purchase: Add Commission and all other expenses to the Net Cost.

127. To find the net proceeds of a sale: Subtract Commission and all other expenses from the Gross Proceeds. 128. Sum expended 100% + Rate % Net Cost. Net Proceeds ÷ 100% Rate % Gross Proceeds.

RULE. Divide the sum expended by 100% + Rate %, and the quotient will be the Net Cost.

Divide the Net Proceeds by 100% Rate %, and the quotient will be the Gross Proceeds.

RULE. Multiply the Gross Proceeds (sum received by the agent for the goods) or Net Cost by the Rate %, and the product will be the Commission or Brokerage.

130. Commission or Brokerage Amount of purchase or sales

Rate %.

RULE. - Divide the Commission or Brokeruge by the Gross Proceeds or by the Net Cost, and the quotient will be the Rate %.

131. Commission or Brokerage Rate % Gross Proceeds or Net Cost.

RULE. ·Divide the Commission or Brokerage by the Rate %, and the quotient will be the Gross Proceeds or Net Cost.

EXAMPLES.

132, 1. My agent sells goods for $1800, and charges me 3% commission. What amount should he remit to me?

2. An agent sells goods for $2648. His commission is. 21%, and charges for storage, etc., amount to $125. What are the net proceeds?

3. I sold for a firm in Chicago a consignment of 950 bu. corn at 60c. per bu., and 120 bbls. pork for $11.75 per bbl. My commission on the corn was 1c. per bu., and on the pork 21% •

The charges were for freight, storage, etc., $195. What were the net proceeds due the firm?

4. My agent purchased for me merchandise amounting to $3750 at 2% commission. For what sum should he draw

on me?

5. I bought for a lumber firm in New York 43560 ft. of pine lumber at $15.50 per M.; 28175 ft. of hemlock boards at $14 per M., and 35250 ft. of spruce lumber at $16.80 per M. My commission was 34%, and other charges $245. What is the gross cost of my purchase?

6. An agent remitted $4168.80 as the net proceeds of a consignment on which his commission was $151.20. What was the rate of commission?

7. I received from my agent in South America $4957.50 as the net proceeds of a consignment of flour which he sold at $7.25 per bbl. His commission was $217.50, and charges for freight $212.50, and drayage and storage $50. What was the rate of commission, and how many bbls. did he sell?

8. I bought goods for a firm in Portland on which the charges were, for cartage, $21.50; storage, $31, and for commission, $112.50. My entire bill was $5165. What was the rate of commission?

9. I paid a real-estate broker $175 for selling a house and lot. This sum included his 5% commission, and other expenses $50. What sum did I realize from the sale?

10. An agent sold 310 bbls. of flour at $5.75 per bbl., and 1245 bu. of corn at 624c. per bu. He paid expenses $75, and after deducting his commission remitted $2357.60 as the proceeds. What was the rate of commission?

11. A commission merchant received $12500 to invest in cotton after deducting 5% commission. How many bales of 400 lbs. each can he purchase at 35c. per lb.?

12. I shipped to Baltimore 850 tons of hay, which my agent sold at $22.50 per ton. He paid charges: For freight, $950; cartage, $112.50; storage, $65. His commission was

21%. What is due me?

13. My agent in St. Louis has sold for me lumber amount

ing to $22850, charging me 3% commission.

One-half the