$25.67; insurance % on sales; commission and guaranty 5% on sales. Render consignee account sales. Find due date of sales; also amount of cash required to settle account with them on Oct. 20.

July 26, sight draft in anticipation of proceeds paid in cash, $1000. Find cash balance for Sept. 28.

On Dec. 1, advanced cash on consignment, $1000. Find cash balance for Dec. 30.

On Oct. 26 I paid sight draft in cash, $800, in anticipation of proceeds. Find cash balance for Nov. 1.

On July 5 I advanced cash on consignment, $250. Find cash balance for Aug. 20.

On Sept. 24 I paid cash on consignment in anticipation of proceeds, $3000. Find cash balance for the date of the last sale.

On Jan. 1, sight draft in anticipation of proceeds paid in cash, $400.

Find cash balance for March 13.

PERCENTAGE.

85. PERCENTAGE is the term applied to operations in figures in which 100 is used as the basis of computation.

66

86. The term " per cent." [Latin per centum] means by the hundred, or, more simply, hundredths. It may be expressed in three different ways by the sign %, by a decimal, and by a fraction.

As hundredths occupy two decimal places, every per cent. requires two or more decimal figures. If a given per cent. is less than 10. a cipher must be prefixed to the figure denoting it. Thus 2% is written .02.

87. The elements of percentage are: the BASE, the RATE, and the PERCENTAGE. If any two are given the other can

be found.

88. The BASE is the number of which a number of hundredths are taken.

89. The RATE is the number of hundredths taken.

90. The PERCENTAGE is the result obtained by taking a certain number of hundredths of the base.

Statement.20% of 250 is 50. 250 is the Base, 50 is the Percentage, and 20% is the Rate.

To read per cent. expressed decimally:

RULE. Call the first two decimal figures per cent. and those on the right decimal parts of 1%.

91. Common fractions may be used to advantage in many operations in percentage and its applications.

NOTE.

.093 3.

.163

.076 4.

.364

Since per cent. can be expressed both by decimal and common fractions, the rules given in decimal and common fractions for changing from one to the other are equally applicable in percentage.

93. To find the percentage, the base and rate being given.

RULE.- Multiply the BASE by the RATE expressed decimally. NOTE. - If the rate is an aliquot part of 100 it is often quicker and easier to take the parts denoted by the corresponding fraction. Thus for 25% take of the Base; 33 take ; 50% take §.

Questions for solution mentally :

1. What is 8% of 500 miles?
2. What is 25% of 240 dollars?

3. What is 30% of 1200?

4. What is 20% of 10 hours 30 minutes?

5. What is 50% of 1050?

6. What is 331% of 252?

9. A merchant bought goods for $475.25 and sold them so as to gain 22% on the cost. How much did he gain?

10. A collecting agent collected for his client $2340, charging 5% fee for his services. How much should he receive? How much should he pay to his client?

11. A merchant who failed in business owed me $1465. He was able to pay only 46% of his debts. On that basis, how much should I receive?

12. A merchant bought a bill of goods amounting to $367.40 on 60 days' time, less 5% if paid within 10 days. On the tenth day he paid the bill. How much did he save by doing so?