CASE I. WRITTEN EXERCISES. 1. How much currency is equal in value to $80 in gold, if the latter is quoted at 108? ANALYSIS.--As $1 in gold is worth $1.08 in currency, $80 in gold is worth 80 times $1.08= $86.40. 2. When gold was quoted at 250, what was the value in currency of $500 in gold? 3. If gold is 106, what is my income, in current funds, from a U. S. 10-40 bond of $1000? 4. I hold a ground rent of $500, the interest of which, at 6%, is payable in gold; how much currency will be required to pay the interest, if gold is 1064? 5. I buy a bill of goods amounting to $16.20; how much currency should I get in change, if I tender a twenty-dollar gold piece in payment, gold being worth 108? 6. I hold a 6% mortgage for $1000, and a U. S. 5-20 bond for the same amount; how much greater income do I derive from the latter, when gold is at 115? CASE II. ORAL EXERCISES. 1. How much gold at 1121 can I buy for $50 in currency? ANALYSIS.—As $1 of gold will buy $1.124 of currency, for $50 of currency we can buy as many dollars of gold as $1.127 is contained times in $50. $50 -- 1.121=$44.44, the required amount in gold. 2. What amount of gold, at 1091, can be bought for $250 currency? 3. I import a quantity of cigars, the duty on which is $175, payable in gold; how much currency will it require to purchase that amount, when gold is at 115? 4. How many watches, at $622, in gold, can I buy for $1100 current funds, gold being at 110? 5. Bought goods for $1800, in gold, and sold them for $2500, in currency; what did I gain on the transaction, gold being at 120? 6. When gold was at 175, what was the value of $1 in currency? REVIEW PROBLEMS. 1. A drover bought 120 sheep, at $4.50 each; 121% of them were destroyed by a railroad collision, and the remainder were sold at $5.25 each; what did he gain by the transaction, the railroad company allowing him the cost of the sheep destroyed ? 2. I purchase 30 boxes of Florida oranges, at $2 per box, each box containing 250 oranges; after losing 20% of them, I sell the remainder, at 25 cents per dozen; how much do I make by the transaction? 3. A merchant owes one man $1575.85, another $3460.72, and sundry other debts amounting to $5812.18; if his property is worth $7232.50, what per cent. of his indebtedness can he pay, and how much will the first man receive? 4. In an election the successful candidate received 20% more votes than his competitor; the whole number of votes cast was 8800; how many did each man receive? 5. A widow received 33} % of an estate, the remainder being divided equally among her three children; what did each child receive, the widow's share amounting to $16000? 6. A hardware firm sold $250000 worth of goods in a year; of that amount was sold at a profit of 15%, and the remainder at a profit of 20%; what was the entire cost of the goods sold, and what was the profit? 79. A St. Louis grain dealer received $5112.50, with instructions to invest in corn, at 80 cents per bushel, after deducting his commission of 21%; how much corn did he buy? 8. An agent sold 26 parlor organs at $180 each, and 12 melodeons at $75 each; he remitted $4185 to the manufacturers, retaining the balance as his commission; what was the rate of commission ? 9. I buy a horse for $96, which I wish to sell at 30% profit; how much must I ask for him in order to throw off $5 and yet make the desired amount? 10. The gross earnings of a railroad company are $650000, and the expenses $350000; what rate % of dividend can be declared, if no surplus is reserved and the capital stock is $2400000? 11. My broker bought me 28 shares of bank stock at 102, brokerage 4%; I drew a dividend of 4% and then sold the stock at par; did I gain or lose on the transaction, and how much? 12. My house is insured at $ % for of its value, the premium amounting to $21; what is the value of the house? 13. A merchant sold goods which cost $2500 at a gain of 20%, and another lot for $2500 at a loss of 20%. Did he gain or lose, and how much? 117. 14. A tax collector pays into the treasurer's hands $47500, which is the amount of his duplicate less his commission of 5%; what is the tax rate if the assessed value of the property in his district is $2000000? 15. What amount of currency will be required to pay the duty on 28 hogsheads of molasses, 86 gallons each, leakage 14%, duty 5 cents per gallon, the price of gold being 1061? 16. What is the duty, at 35%, on 50 dozen bottles of champagne, invoiced at 5 francs per bottle, breakage 5%, the franc being worth $.193? Charleston, May 20, 1875. $800. Six months after date, I promise to pay to the order of James Rodgers, eight hundred dollars, with interest at 7%. Value received. WILLIAM H. WESTER. Indorsed as follows:—September 3, 1875, $30; December 23, 1875, $10; March 4, 1876, $180. What was due, by the United States rule, on settlement, August 15, 1876? 18. I received $1126.44 in payment of a loan at 6% interest, for 8 mo. 18 da. ; what was the sum loaned ? 19. Lent a friend $500, at 6%; when he repaid me it amounted to $545; how long had he the money? 20. If a bill of goods amounting to $1250 is bought on 4 months' credit, what amount of cash will settle the same at once, money being worth 6%? 21. A merchant bought goods for $1600 cash, and sold them at an advance of 121 %, receiving in pay a 30-day note, which was immediately discounted in bank, at 6%; what did he make on the transaction? 22. I bought a house for $3600; paid the real estate agent 11% commission, the conveyancer $41.50, and a carpenter's bill of $21.80 for repairs; for how much must I draw a 60-day note, so that when discounted in bank at 6%, it shall cover the entire expense? 23. What sum must be invested in a 6% stock, selling at 95, to yield an income of $1680? 24. I bought a farm of 106 acres, at $150 per acre, and sold it a year later at an advance of $15 per acre; at what price would I have had to purchase a 6% stock, to yield me the same percentage on my money? RATIO. Ratio is the relation which one quantity bears to another of the same kind. There are two kinds of ratio, arithmetical and geometrical. Arithmetical Ratio expresses the difference between two quantities. Geometrical Ratio expresses the division of one quantity by another. Geometrical Ratio is indicated in two ways: By placing two dots between the numbers to be compared, considering the first number as a dividend, and the last as a divisor; or, by writing the two numbers in the form of a fraction. Thus, the ratio of 8 to 12 is written 8:12, and read 8 is to 12, or is expressed fractionally as 18. The quantities compared are called the Terms of the ratio; the first term being called the Antecedent, and the second term the Consequent. |