32. A butcher sold a yoke of oxen for $125, and thereby made 15 per cent.: how much did they cost him?

33. A bookseller sold a lot of books for $200, which was 12 per cent. more than the cost: what was the cost?

34. A wholesale druggist sold a quantity of medicines for $560, and made 50 per cent. profit on them: what was the cost of them?

35. A merchant sold a cargo of rice for $1500, which was 121 per cent. less than cost: what was the cost?

EXAMPLES FOR PRACTICE.

1. A merchant bought 25 boxes of raisins for $45: at what price per box must he retail them to gain 10 per cent. by his bargain?

2. A shopkeeper bought a piece of cotton containing 40 yards, at 6 cents a yard, and sold it for 7 cents a yard: what per cent. profit did he gain, and how much did he make by the bargain?

3. A merchant bought 60 yards of domestic flannel, at 25 cents per yard, and sold it at 30 cents per yard: what per cent. was his profit, and how much did he clear by the operation? 4. A bookseller bought 100 Arithmetics, at 31 cents apiece, and retailed them at 37 cents apiece: what per cent., and how much did he make by the operation?

5. A drover bought 175 sheep for $350, and sold them so as to gain 15 per cent.: how much did he sell them for per head?

6. A baker paid $2500 for 480 barrels of flour, and finding it damaged, sold it at a loss of 8 per cent.: how much did he sell it for per barrel?

7. A merchant bought 10 pieces of broadcloth, each piece containing 30 yards, for $1400, and retailed the whole at a profit of 20 per cent.: at what price did he sell it per yard?

8. A grocer bought 500 lbs. of butter for $75, and sold it at a loss of 7 per cent.: how much did he get per pound?

9. A merchant bought 12 hogsheads of molasses, at 25 cents per gallon: how must he sell it by the gallon in order to gain 20 per cent.; and what will be his profit?

10. A farmer raises 750 bushels of wheat, at an expense of $675: how must he sell it per bushel, in order to make 18 per sent.?

11. A provision merchant bought 1500 barrels of pork, at $10.25 per barrel, and sold it at a loss of 9 per cent.: how much did he lose, and what did he get per barrel?

12. An inn-keeper bought 150 bushels of oats, at 25 cents a bushel, and retailed them at the rate of 12 cents a peck: what per cent., and how much did he make on the oats?

13. A miller bought 500 bushels of wheat, at 75 cents per bushel: how much must he sell the whole for in order to gain 20 per cent.?

14. A grocer bought 1630 pounds of tea, at 62 cents per pound, and sold it at 10 per cent. loss: how much did he sell it at per pound?

15. A merchant bought a bale of calico prints containing 750 yards and paid $75: how must he retail it per yard, in order to gain 20 per cent., and how much would he make on a yard?

16. A bookseller purchased 1000 geographies, at 84 cents apiece: how must he retail them to gain 20 per cent.?

17. A milliner bought 1200 yards of ribbon, at 30 cents per yard how must she sell it per yard to gain 50 per cent.?

18. A grocer bought 5000 lbs. of sugar for $350, and retailed it at 6 cents per pound: what per cent. loss did he sustain ?

19. A man purchased goods amounting to $1635: what per cent. profit must he gain, in order to make $350 ?

20. A speculator bought 10000 acres of land for $12500, and afterwards sold it at 25 per cent. loss: for how much per acre did he sell it, and how much did he lose by the operation?

21. A grocer sold 116 bbls. of flour, at $61 per barrel, and gained 12 per cent.: how must he have sold it to lose 121 per cent.?

22. A merchant sold a lot of cloth at $5.37 a yard, and gained 15 per cent.: what per cent. would he have gained or lost, if he had sold it at $5.25 per yard?

23. Bought 516 yds. of linen, at 75 cents per yard, which shrunk 1 per cent. in bleaching; after keeping it 6 months it was sold on 6 months' credit, at 20 per cent. advance on a yard: what was it sold for per yard, and how much was made by the operation, allowing 7 per cent. interest on the money invested?

DUTIES.

271. DUTIES, in commerce, are sums of money required by Government to be paid on imported or exported goods.

Duties are of two kinds, specific and ad valorem.

A specific duty is a specified sum imposed on a yard, gallon, pound, &c.

An ad valorem duty is a certain percentage on the valve or cost of goods.

OBS. 1. The term ad valorem, signifles according to value.

2. Duties, both specific and ad valorem, are regulated by Government, and have varied at different times and in different countries.

According to the present revenue laws, all duties in this country are levied on the ad valorem principle.

272. Before duties are levied, in certain cases deductions are made for Tare, Tret or Draft, Leakage, and Breakage.

Tare is a deduction made from the weight of goods on account of the boxes, casks, or bags which contain them.

The remainder, after deducting the tare, is sometimes called suttle weight.

Tare is of three kinds, actual, customary, and average.

Actual tare is the exact weight of the boxes, casks, &c., and is ascertained by weighing them when empty.

Customary tare is an allowance for the supposed weight of boxes, casks, &c., and is established by custom.

Average tare is the medium weight of boxes, casks, &c., and is determined by weighing a few, and making the mean weight of these the standard for the whole.

Draft or tret is a deduction made from the weight of goods for waste or refuse matter.

Leakage is an allowance for the waste of liquors contained in casks.

Breakage is an allowance for the waste of liquors contained in bottles.

OBS. In buying and selling groceries in large quantities, allowances were formerly made for tare, draft, leakage, &c., similar to those in reckoning duties; but this practice has very generally fallen into disuse.

QUEST. 271. What are duties in commerce? What are specific duties? Ad valorem duties?

Of how many kinds are they?
Note. What is the meaning of

the term ad valorem? 272. What deductions are sometimes made before duties are imposed? What is tare? Draft or tret? Leakage? Breakage?

272.a. Method of finding the amount of Tare, Tret, &c.

1. The tare allowed in assessing duties in this country and England, at the present time, is actual tare, and the amount is determined by weighing the goods when landed.

Note. The amount of customary and average tare, is found by multiplying the number of pounds per box by the number of boxes.

2. Draft or tret is not so extensively allowed in levying duties as tare. The present revenue laws of this country do not recognize it. The allowance formerly made on a box weighing 1 cwt. gross (112 lbs.), was 1 lb.

From 1 cwt. to 2 cwt. (224 lbs.),

2 lbs.

Note.-In England, the allowance for draft or tret is 4 lbs. on 104 lbs.

3. The amount of leakage is found by gauging the casks, and the actual deficiencies are deducted from the invoice before the duty is assessed.

The amount of breakage is determined by examination, and the actual loss is deducted.

Note. Formerly 2 per cent. was allowed for leakage on liquors contained in casks; 10 per cent. for breakage on porter, ale, and beer contained in bottles, and per cent. on all other liquors.

4. The net weight of merchandise is found by subtracting the amount of tare and draft or tret from the gross weight.

5. The net measure of fluids is found by deducting the leakage and breakage from the whole quantity.

OBS. In estimating allowances, when a fraction occurs, equal to a half pound, gallon, &c., or more, it is considered a unit; if less than a half, it is disregarded. Ex. 1. What is the net weight of 4 casks of sugar, the 1st, weighing 2 cwt. 3 qrs. 21 lbs. ; the 2d, weighing 3 cwt. 2 qrs. 17 lbs.; the 3d, 4 cwt. 3 qrs. 18 lbs.; and the 4th, 3 cwt. 1 qr. 15 lbs., allowing the former draft and 15 lbs. to a cask for tare?

2. What is the net weight of 4 bales of cotton, one weighing 561 lbs. gross, another 473 lbs., another 378 lbs., and the other 493 lbs. gross, the tare being 16 lbs. to a bale?

3. What is the net weight of 12 hogsheads of tobacco, each weighing 5 cwt., tare being 27 lbs. to a hogshead?

4. What is the net weight of 21 bbls. of potash, each weighing 341 lbs. gross, allowing 17 lbs. tare per barrel?

5. If the draft and tare are 51⁄2 lbs. per hundred, how much will it be on 15 tons, 12 cwt. 2 qrs. 20 lbs. gross?

6. What is the amount of draft and tare, at 74 lbs. per hundred, on 27 tons, 16 cwt. 3 qrs. 15 lbs.?

7. What is the leakage on 41 hhds. and 45 gals., at 2 per cent.? What is the net measure?

8. At 3 per cent., what is the leakage and net measure of 64 casks of ale, which contain 35 gallons, 3 qts. apiece?

9. What is the breakage, at 10 per cent., on 423 bottles of porter? What the net measure?

10. What is the breakage, at 5 per cent., on 65 baskets of wine containing 16 bottles apiece? What is the net measure?

CASE I.-Specific Duties.

Ex. 1. What is the specific duty on 10 pipes of wine, at 15 cents per gallon, reckoning the leakage at 2 per cent.?

Operation.

The number of gallons, is 126 × 10, or
Leakage at 2 per cent., 1260 gals. ×.02, or

Net gallons on which the duty is to be paid,
Per cent. duty, (specific,)

The amount of duty to be paid, is

273. Hence, to compute specific duties on merchandise.

First deduct the legal tare, draft, leakage, or breakage, from the given quantity of goods; then multiply the remainder by the given duty per gallon, pound, yard, &c., and the product will be the duty required.

QUEST.-273. What is the rule for computing specific duties?