10. What is $ per cent. of $827.63 ? Suggestion. 3} per cent. is equal to .032. (Art. 223.) Obs. If the per cent. contains a common fraction which cannot be expressed decimally, first multiply by the decimal, then by the common fraction of the given per cent., and point off the sum of their products as above. 17. What is 2} per cent. of $144 ? Operation. $144 Since } per cent. cannot be ex,02} actly expressed by decimals, we $2.88=2 per ct. first multiply by .02, then by ; 48= } per ct. (Art. 134.a. ;) and point off two decimal places. $3.36 Ans. 18. What is 44 per cent. of 257 ? 19. What is 84 per cent. of 673 ? 20. A merchant having deposited $20 in a bank, afterwards drew out 103 per cent of it: how many dollars did he draw out? 21. A merchant makes a deposit of $1864 and draws out 25 per cent. of it: how much has he left in the bank ? 22. A merchant shipped 865 boxes of lemons ; on the passage home 15 per cent. of them were thrown overboard : how many boxes did he lose ? how many had he left ? 23. How much is 6} per cent. of $1000 ? 24. How much is 7 per cent. of $1526.33 ? 25. How much is 85 per cent. of $16.325? 26. A young man worth $1500, lost 314 per cent. of it in gambling : how much did he lose ? how much had he left ? 27. A merchant bought a cargo of flour for $1230, and paid 41 per cent. for bringing it' home : what was the whole cost of his flour ? 28. What is 374 per cent. of $100? Of $2537.50 ? 29. What is 112 per cent. of $150 ? 30. What is 125 per cent, of $635 ? 31. What is 250 per cent. of $17.35 ? 32. Which is the most, 7 per cent. of $1000, or 6 per cent. of $1100 ? 33. What is the difference between 6 per cent. and 7 per cent. of $12000 ? 34. What is the difference between 9 per cent. of $2000, and 6 per cent. of $3000 ? 35. What is 17} per cent. of $10000 ? 36. What is 203 per cent. of $10500 ? 37. A man gave his two sons $10000 apiece ; the elder added 155 per cent. to his the first year, and the young er spent 15} per cent. of his : what was the difference of their property at the end of the first year? 38. A laboring man earning $225 a year, lays up 233 per cent. of it: how much does he spend ? 39. A man having deposited $856.25 in a savings bank, drew out 314 per cent, of it: how much had he left in the bank ? 40. A farmer owing 3560 sheep, lost 50 per cent. of them by disease : how many had he left ? APPLICATIONS OF PERCENTAGE. 226. Percentage, or the method of reckoning by hundredths, is applied to various calculations in the practical concerns of life. Among the most important of these are Commission, Brokerage, the Rise and Fall of Stocks, Interest, Discount, Insurance, Profit and Loss, Duties, and Taxes. Its principles, therefore, should be thoroughly understood by every scholar. Quest.-226. To what are the principles of percentage applied ? What are some of the most important of these calculations ? COMMISSION, BROKERAGE, AND STOCKS. 227. Commission is the per cent. or sum charged by agents for their services in buying and selling goods, or transacting other business. Obs. An agent who buys and sells goods, &c. for another, is called a Commission Merchant, a Factor, or Correspondent. 228. Brokerage is the per cent. or sum charged by money dealers, called Brokers, for negotiating Bills of Exchange, and other monetary operations, and is of the same nature as Commission. 229. By the term Stocks, is meant the Capital of monied institutions, as incorporated Banks, Manufactories, Railroad and Insurance Companies ; also, the funds of Government, State Bonds, &c. Oes. Stocks are usually divided into portions of $100 each, called shares; and the owners of these shares are called Stockholders. 230. The original cost or valuation of a share is called its nominal, or par value ; the sum for which it can be sold, is its real value, which varies at different times. Obs. 1. The rise or fall of Stocks is reckoned at a certain per cent. of its par value. The term par is a Latin word, which signifies equal, or a state of equality. 2. When stocks sell for their original cost or valuation, they are said to be at par ; when they sell for more than cost, they are said to be above par, or at un advance; when they do not sell at cost, they are then said to be below par, or at a discount. 3. Persons who deal in Stocks are usually called Stock-Brokers, or Stock-Jobbers. 231. The commission or allowance made to factors and brokers, and the rise and fall of stocks, are usually reckoned at a certain percentage on the amount of money Quest.—227. What is commission ? Obs. What is an agent who buys and sells goods for another usually called ? 228. What is brokerage ? 229. What is meant by stocks? How are stocks usually divided ? What are the owners of the shares called? 230. What is the par value stocks? What the real value? Obs. What is the meaning of the term par ? When are stocks at par? When above par? When below? 231. How are commission, brokerage, and the rise or fall of stocks reckoned ? employed in the transaction, or on the par value of the given shares. Hence, 232. To compute commission, brokerage, and the advance or discount on stocks. Multiply the given sum by the given per cent. expressed in decimals, and point of the product as in Percentage. (Art. 225.) EXAMPLES. Ex. 1. A commission merchant sold a quantity of corn for $236, and charged 2 per cent. commission : how much did he receive for his services ? Ans. $4.72. 2. A tax gatherer collected $533.56, for which he was to have 3 per cent. commission : how much did he receive ? - 3. An auctioneer sold $860.45 worth of goods at 21 per cent. commission : how much did he receive ? 4. An agent sold a quantity of oil for $265.35, and charges 21 per cent. commission : how much did the agent receive ; and how much did the owner receive for his oil ? 5. Sold goods to the amount of $356, at 4 per cent. commission: how much did I receive for my services ? 6. Bought goods amounting to $480, at 34 per cent. commission : what is the amount of my commission? 7. What is the commission on $163.625, at 64 per cent. ? 8. What is the commission at 5} per cent. for purchasing flour to the amount of $1365.25 ? 9. I send my agent $1000 to be laid out in cotton, and agree to allow him 58 per cent. commission : what is the amount of his commission, and how many dollars worth of cotton shall I receive? 10. A lawyer collected a debt of $695.05, and charged 7} per cent. : how much did he receive, and how much will he pay his employer ? Quest.—232. How do you compute the commission, brokerage, &c. on any given sum? 11. A merchant negotiated a bill of exchange of $5000 with a broker, and agreed to give him 7 per cent.: how much did the broker receive ? 12. What is the brokerage on $8265, at 54 per ct. ? 13. What is the brokerage on $6524.13, at 8 per ct. ? 14. What is the commission on $146.356, at 20 per cent. ? 15. What is the commission on $1625.75, at 25 per cent. ? 16. What is the commission on $25026.10, at 15 per cent. ? 17. What is the brokerage on $50265.95, at 35 per cent. ? 18. What is the brokerage on $38212.085, at 14 per cent. ? 19. What is the brokerage on $752600, at 1 per cent. ? 20. What is the brokerage on $1000000, at $ per cent. ? 21. Bought 10 shares of bank stock, for which I agreed to pay 4 per cent, advance : how much did the stock cost me? Suggestion. The stock manifestly cost me its par value, viz: : $1000, together with 4 per cent. of it. Now $1000 X.04=$40; and $1000+ $40=$1040. Ans. 22. A man bought 5 shares of the Boston and Providence Railroad stock at 53 per cent. advance : what did his stock cost him? 23. A stock broker bought 15 shares of the New York and Erie Railroad stock at par, and sold them at 15 per cent. discount: what did they come to? 24. Sold 29 shares in the American Manufacturing Co., at 16 per cent. advance : what did they come to ? 25. A stock jobber bought 45 shares of the Auburn and Rochester Railroad stock at 3 per cent. discount, which he sold at 7 per cent. advance : how much did he make by the transaction ? 26. A widow invested $9000 in the Commonwealth Bank stock at par, and finally sold it at 75 per cent. discount: how much did she lose ? |