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28. A man is 72 years old, and 121% of his age is 33% of his son's age; what is the son's age?

29. M drew 33% of his bank deposit, and paid 25% of it for a house worth $5000; what was his original bank deposit?

30. A wagon was sold for $371, which was at a gain of 33% another one was bought at $371⁄2, and sold at a loss of 33%; what was the gain or loss?

158. Commission.

Commission is the sum paid to an agent for the transaction of business.

APPLICATIONS OF PERCENTAGE.

The agent is sometimes called a factor, a broker, a collector, or a commission merchant.

The Base in commission is the amount received when selling and the amount paid when buying.

The amount remaining after deducting the commission and other charges is called the Net Proceeds.

159. The cases of commission are the same as those of percentage.

$4500

.03

WRITTEN EXERCISES.

1. My agent sold goods for $4500: his commission is 3%, and other charges are $15.50; what amount is due me?

PROCESS.

$135.00

15.50

$150.50

$4500

$4349.50, Ans.

The commission is .03 times $4500, which is $135. Adding to this the other charges, the entire sum to be deducted is $150.50.

Subtracting this from $4500, the net proceeds are $4349.50.

2. I sent my agent $3075 to invest in flour after deducting his commission at 21%; what amount did he invest?

PROCESS.

$3000, Ans.

1.025)$3075.000 3075

$6428)$144.63 12856

The sum invested, increased by 21% of itself, is $3075.

3. An agent sold land for $6428, and received as his commission $144.63; what was the rate of commission?

PROCESS.

1.021, or 21%, Ans.

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If 1021%, or 1.02 times the sum invested, is $3075, that sum must be $3075 divided by 1.02, which is $3000.

Since $6428 multiplied by some rate is $144.63, that rate is $144.63 divided by $6428, which is .021, or 21%.

4. An agent sold $4550 worth of goods at 2% commission; what was his commission?

5. An agent's commission at 3% is $216; what amount of goods did he sell?

6. An agent sells $7316 worth of goods, and receives $256.06 as his commission; what is the rate of commission?

7. An agent bought 200 barrels of flour at $4.75 a barrel : his commission was 3%, and other charges were $21.50; what was the entire cost?

8. What is the commission on $9540 at 34%?

9. Mr. Brown sent his agent in Chicago $7000 to invest in pork, after deducting his commission at 21%; what was his commission?

10. An agent bought sugar, charging $150 commission and $28.45 storage: his entire bill was $5178.45; what was the rate of commission?

11. My agent in St. Paul sells goods to the amount of $4370: his commission is 2%, and freight charges are $65.25; what sum is due me?

12. A factor received $4000 to invest in shoes after deduct ing his commission at 2%; what sum was invested?

13. An agent bought 75 horses on a commission of 11% : the transportation cost $250; the entire cost was $20,500; what did the agent pay a head for the horses?

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14. An agent received a certain sum of money to invest in goods after deducting his commission of 3% he invested $6250; what sum did he receive?

15. I directed my agent in New Orleans to sell my cattle, for which he subsequently received $4800, and to purchase sugar at 5 cents a pound with the proceeds, after deducting his commission of 2% for buying and selling; how many pounds did he buy?

16. What are the net proceeds from the sale of 425 tons of coal at $4.50 a ton, the commission being 24%, and other charges $148.75?

17. A commission merchant received $56.24 for selling flour at 2% commission; what was the amount of the sale?

18. An agent sold $450 worth of goods on a commission of 1% he invested the net proceeds in flour, charging the same commission for buying; what sum was invested in flour?

19. My agent sold 40 horses at $125 a head on 11% commission, and 60 cows at $25 a head on 14% commission: other charges amounted to $105.16; how much was due me?

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20. I sold goods on a commission of 3% through an agent who charged me 14% my commission after paying my agent was $140; required my entire commission, the agent's commission, and the money paid to my employer.

21. My agent sells 300 barrels of flour at $4.50 a barrel. His charges are as follows: commission 2%, guaranteeing payment 14%, and freight $125; how much is due me?

22. An agent sells goods at 21% commission: after deducting his commission he remits to his employer $3763.50; what is his commission?

23. An agent sold 400 barrels of apples at $4.75 a barrel, charging 2% commission: he invested the proceeds in wheat at 60 cents a bushel, charging 3% commission for buying; how many bushels of wheat did he buy?

24. My agent in Boston sold a shipment of flour, for which he charged me 5% commission: I instructed him to invest the proceeds in shoes, for which I paid him a commission of 23%; what did he receive for the flour if he invested $1900 in shoes?

25. I collect a bill of $360, and return my employer $351; what per cent. do I charge for collecting?

160. Taxes.

A Tax is a sum of money assessed upon the person, property, or income of an individual for public purposes.

When the tax is assessed upon the person it is called Polltax, when on property it is called Property Tax, and when on the income it is called Income Tax.

161. Property is of two kinds-Real Estate, or immovable property, as lands, houses, etc.; and Personal Property, or movable property, as money, furniture, stocks, etc.

162. The person elected or appointed to estimate the value of the property to be taxed is the Assessor.

163. The Rate of Taxation is a certain percentage of the taxable property.

WRITTEN EXERCISES.

1. A tax of $7800 is to be raised in a town in which the taxable property is $1,600,000: there are 500 persons who pay a poll-tax of $2 each; what is the rate of taxation? What is A's tax, whose property is valued at $3000, and who pays 1 poll-tax?

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The poll tax equals 500 times $2, which is $1000.

The amount of tax to be raised on the property is $7800 minus $1000, or $6800.

Dividing $6800 by the value of the property, $1,600,000, we find the rate of taxation, .0041.

A's tax is $3000 multiplied by .004, or $12.75. $12.75 plus his poll tax, $2, makes his entire tax $14.75.

From this example it is evident that the rate of taxation may be found by deducting the poll tax, if any, from the entire tax to be raised, and dividing the remainder by the value of the taxable property.

To find the tax of an individual, multiply his taxable property by the rate of taxation and add to the product his poll tax.

2. What is the rate of taxation in a town in which the property is valued at $860,000, and the tax to be raised is $2150?

3. A school district whose taxable property is $540,000 wishes to raise a tax of $810; what is the rate of taxation?

4. In a town whose taxable property is valued at $5,463,000 a tax of $9560.25 is raised; what is the rate of taxation?

5. A tax of $3240 is raised in a town whose taxable property is valued at $440,500; what is the rate of taxation, if there are 398 polls, each paying $1.50?

6. My property is valued at $5600, and I pay a poll tax of $2; what is my entire tax, at the rate of .24%?

7. B's real estate is valued at $10,400, and his personal property at $5280; what is his tax, at the rate of $12.50 on

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