11. If 0.8% of those living at the age of 24 die within a year, how many out of 6625 persons of this age die during that period?

12. At the age of 15, 735 out of 96285 die within a year. What is the rate per cent of deaths?

13. At the age of 25, 718 out of 89032 die within one year. Is the death rate higher or lower than at the age of 15?

14. A man owns a farm worth $7500. His annual taxes are $68.50. How much must he make in order to clear

6% from his farm each year?

15. A house depreciates in value each year at the rate of 5% of its value at the beginning of the year, and its value at the end of three years is $4225; find the original value.

16. A man sold two horses for $200 each; on the purchase price of one he made 20%, and on the other he lost 25%. Did he gain or lose and how much?

17. The wholesale grocer buys coffee at 25 ct. per pound and sells it at 30 ct. The retail grocer buys it at 30 ct. and sells it at 371 ct. What per cent does each make?

18. If a person spends 60% of his income and saves 1000, what is his income?

19. Which investment returns the larger per cent, flour costing $1.98 per hundred pounds and sold for $2.10, or sugar costing 3 ct. a pound and sold for 4 ct.?

20. A man owning a interest in a store sold of his interest. What per cent of his share did he sell, and what per cent of the store did he still own?

21. A merchant sold out his stock of goods at a discount of 10% of the cost and realized $14756.34. How much

did his goods cost him?

22. A house rents for $300 a year, which represents 6% of its value. How much is it worth?

23. In 1880 the population of the United States was 50152866, in 1890 it was 63069756, and in 1900 it was 75994575. During which decade was the per cent of increase greater and how much?

24. What is the difference, in square yards, between of an acre and 3% of an acre?

25. The population of a city is 14560, and is 35% more than it was 10 yr. ago. What was the population

then?

26. On Nov. 1, 1897, the amount of money in circulation in the United States was: gold (including gold certifi cates), $576000000; silver (including silver certificates), $496000000; paper, $634000000. Nov. 1, 1902, the corresponding amounts were $967000000, $623000000 and $736000000. What was the per cent of increase in each case during the 5 yr., and what was the total per cent of increase?

27. The following tables show the total receipts and disbursements of three of the largest life insurance companies in the United States for the year 1902:

Find the per cent of the total income remaining in the hands of each company at the end of the year. Find the per cent of expense to income and of death claims to income in each case.

28. In 1890 the total foreign population in the United States was 9249547, of whom 2784894 were born in Germany and 1871509 in Ireland. The population of the United States in 1890 being 63069756, what per cent of the population was born in Germany, and what per cent in Ireland?

29. In 1890 the total number of negroes in the United States was 7470000, which was 11.8% of the total population at that time. Determine the population correct to thousands.

30. In 1898 the total value of the exports from the United States was $1231482330, the total value of imports was $616049654. By what per cent did the value of the exports exceed the value of the imports?

COMMERCIAL DISCOUNTS

237. Manufacturers, publishers and wholesale dealers have a fixed price list for their products. Their customers are allowed certain discounts from their list price, determined by the current market value. Thus, a book may be published at $1.50 with a discount of 20% to dealers. The $1.50 is the list price and 20% is the discount. The list price less the discount ($1.50-20% of $1.50=$1.20) is the net price, or cost.

238. To avoid the inconvenience and expense of issuing a new catalogue whenever the market values change, business houses generally print a new trade price list giving new discounts, without issuing a new catalogue. The discount is changed either by increasing or diminishing the single rate of discount already allowed, according as the cost of production is diminished or increased. If the discount is to be increased, the change is generally made by quoting a further discount. Thus, in a catalogue of electrical goods a 32 candle power lamp is quoted at $1.20. In trade price list A, accompanying the catalogue, a discount of 50% is allowed on small orders. In trade price list B, issued later on account of a change in the cost of production, a discount of 50% and 15% is allowed. A dealer buying 10 lamps according to trade price list A would pay 10 x $1.20 - 50% of 10 x $1.20 = $6, while according to trade price list B he would pay $6 – 15% of $6 = $5.10.

The discount is frequently increased in case of large orders. Thus, in the above trade price list, a discount of 50% is allowed on all orders for less than 25 lamps, a discount of 50% and 20% is allowed on all orders for 25 to 100 lamps, and a discount of 50%, 20% and 10% on orders for 100 or over.

239. Bills are generally made out payable in 30, 60 or 90 days, subject to a certain discount for cash, or if paid before due. Business houses usually print on their bill heads their terms of discount for cash, e.g. "Terms: 60 days, or 2% discount for cash.” "Terms: net 90 days, or 3% in 10 days."

Ex. 1. On March 12, 1903, E. C. Horner & Co. bought of James Bros., Chicago, 50 plows, listed at $6.50, less 25% and 10%. Terms: 90 days, 3% in 10 days.

=

If Horner & Co. avail themselves of cash payment, they will deduct 3% of $219.37 $6.58, and send the remainder, $212.79, to James Bros. If the bill is not paid till the 90 days expire, they will send $219.37.

Ex. 2. Find the cost of a bill of goods amounting to $75 less 20%, 5% and 2% for cash.

Solution. Let x = the cost.

Then x =

= 0.98 × 0.95 × 0.80 of $75 = $55.86.

Analysis. $75 is the list price.

Then $75-20% of $75 = 0.80 of $75 is the amount left after the first discount. And 0.80 of $75 - 5% of 0.80 of $75 = 0.95 × 0.80 of $75 is the amount left after the second discount. And 0.95 × 0.80 of