LESSON 24 Finding the Gross Amount When the Rates of EXAMPLE:After deducting 10% and 10%, the net amount of an invoice is $324.00; what is the gross As you have already learned, the gross amount always is 100%; therefore, when the net amount and the rates of discount are known, we must subtract the rates of discount successively from 100% so that we may know what per cent the net amount is of the gross amount, and then we must divide the net amount by this per cent to find 100% or the original bill. Exercise 53—Oral. Give the total discount rate per cent, also the net rate per cent of the following: 13. If the net amount of an invoice is $80.00 after deducting 20% and 20%, what is the first thing you would do if you were asked to find the gross amount? 14. Since a discount of 20% and 20% is the same as a discount of 36%, what per cent of the gross amount is $80.00 in Question 13? 15. Knowing that $80.00 is a certain per cent of the gross amount, how do we find the gross amount? 16. If 10% and 10% discount on a certain invoice is $19.00, how would you find the gross amount of the invoice? 17. If the discount on a certain invoice is $43.00, and the net amount of the invoice is $88.00, how would you find the gross amount? 18. In the example stated in Question 17, how would you find the rate of discount? 19. In Question 17, how would you find what per cent the net amount is of the gross amount? Exercise 54 Written. Solve and prove: 1. After deducting 20% and 10% discount, the net amount of an invoice is $108.00; what is the gross amount of the invoice? 2. After deducting 20% and 10%, the net amount of an invoice is $85.50; what is the gross amount of the invoice? 3. A clock manufacturer changed his trade discount from 20% to 10%; what per cent did he increase his net price? 4. If 25% and 10% discount on an invoice is $81.25, what is the gross amount of the invoice? 5. If 20% and 5% discount on an invoice is $57.60, what is the net amount of the invoice? 6. If 25% and 20% discount on an invoice is $64.00, what is the gross amount of the invoice? Find the missing items in the following: Class is to select two girls and two boys to be the insurance men with offices in opposite sides of the room. Some of the pupils are to be ready to inquire about insurance for fire. 1. Questions are to be asked Choose some (a) For frame house; (b) For brick house; of these questions and get the appointed insurance men in office to answer you. Class mem'bers may stand and call for a clearer understanding on any point. Other pupils are to carry out this part of the work. Two or three pupils go as members of one family to take out insurance. (c) For large apartment build- (d) For a store; (e) For frame house next to (f) For doctor's office; 4. Who decides how much 5. Is the rate always the 6. If it differs, why? 7. Go take out insurance to 8. Go take out insurance to cover your furniture. 9. Go take out insurance to cover your personal prop- erty. Appointed insurance men in office must answer. Get all the information you can. Ask father, mother, teacher, and insurance men. 1. What is the premium on a $2,000. insurance policy at 1%? 2. My barn is worth $800. If I have an insurance policy on of its value at 1%, what must I pay for my insurance? 3. The Continental Insurance Company insures John Black's furniture against loss by fire to the extent of $800. at 90¢ per yr. per $100. Who is the insured? Who is the insurer? What is the written agreement called? How much premium did he pay? State the face of the policy. What kind of insurance is this? (Examine an insurance policy and be ready to talk about it.) 4. Can you name some other insurance? |