EXERCISES. Ex. 1. How much Tea, at 8 s. per lb., should be given in exchange for 28 lb. of Cheshire Cheese, valued at 8 d. per lb.? Ex. 2. How many pounds' weight of Gum Benjamin, valued at 18 s. per lb., should be given in exchange for 23 lb. 10 oz. of Cochineal, valued at 11 s. 6 d. per lb.? Ex. 3. A person who has 3 logs of Mahogany, measuring 209 cubic feet, valued at 18 s. per cubic foot, sells them for £ 50 14 11 in Cash, and the rest in Deals, valued at £ 32 10 s. per hundred of 120 Deals; how many Deals will he have to receive? Ex. 4. I have sold the following Goods: viz. cwt. 1 1 17 of Coffee, at 63 s. per cwt. gallons 17 of Rum, at 13 s. 6 d. per gall. cwt. 7 3 23 of Sugar, at 61 s. 6 d. per cwt.; 25 yds. of Cambric, at 11 s. 6 d. per yard, 133 of Calico, at 7 d. per yard, 63 of Irish Linen, at 2 s. 8 d. per yard; and I am to receive the remainder of the amount of my goods in Calico, valued at 63 d. per yard; what quantity shall I have? Ex. 5. How much 3 per cent. Stock, at 97 per cent., am I to receive in exchange for £ 3476, 3 per cent. Stock, at 81 per cent. Ex. 6. How much 3 per cent. Stock, valued at 834 per cent. am I to receive in exchange for £ 1000, 4 per cent. Stock, valued at 102 per cent.? PRODUCTS. Ex. 1. lb. 2 7 10 ... Ex. 2. lb. 15 11⁄2 oz. 3. Value of the Mahogany £ 188 2. Number of Deals 509 4. Value of the Coffee, £ 4 8 4... Rum £ 11 9 6 Sugar £ 24 9 3... Cambric £ 14 13 3... Calico £ 4 3 3 Irish Linen £ 8 9 4-Balance £13 1 3 yards 464 13 Ex. 5. £ 2896 13 4 Ex. 6. £ 1230 1 6 PROFIT AND LOSS Profit is the excess, and Loss is the deficiency, of the selling price in comparison with the cost price of Goods. Per Centages of Profit and Loss are calculated by the Rule of Three, in which the first term is the cost price, the second term is the gain or loss, and £ 100 is the third term. EXAMPLE. To find the gain per cent. upon Sugar, bought at 54 s. 6 d. per cwt. and sold at 7 d. per lb. 112 lb. at 7 d. per lb. S. d. 65 4 selling price s. 10 10 gain Ex. 1. If Sugar is bought at 63 s. 6 d. per cwt., and retailed at 7 d. per lb., how much is the amount of the gain per cwt. ? Ex. 2. If the gain upon £ 82 10 s. is £ 11 4 6, what is the rate of the gain per cent. ? Ex. 3. If Goods which cost £ 236 11 8 are sold for £ 273 9 7, what is the rate of the gain per cent. ? Ex. 4. If Goods which cost £ 313 16 6, are sold for £ 292 14 5, what is the rate of the loss per cent. ? When the first and second terms of these statements are not in pounds, the second term may be compared with the first, and the third may be made the producing term, instead of the second. F Ex. 5. How much must Goods which cost £135 10 6 sell for, to make a profit of 12 per cent. ? Ex. 6. If Ginger is purchased at 98 s. 6 d. per cwt., and is sold so as to gain 15 per cent., what is the amount of the gain per cwt., and what rate is it to be sold at per lb.? Ex. 7. If the Cost and Charges of 1 bale of Cinnamon, weighing net 3 qrs. 17 lb. are £ 42 5 4, at what rate per cent. would be the Gain or Loss upon this article, if the whole were retailed at 9 S. 3 d. per lb. ? Ex. 8. If Hops which cost £4 16 s. per cwt. are sold at the different rates of £ 5 7 6 and £5 10 s. per cwt., what is the difference in the rates per cent. of the Gains? Ex. 9. At what rate must Coffee be sold per lb. to make a Profit of £ 16 per cent., when the Cost and Charges of cwt. 11 3 17 are, £ 100 11 0? the Ex. 10. The prime Cost of 12 casks of Argol imported from Leghorn is £165 15 1; the Gross weight of the same is cwt. 74 1 7, the Tare cwt. 8 1 14, the Draft 2 qrs. 14 lb., selling price is 65 s. 6 d. per cwt. with a Discount of 2 per cent., and the amount of the importation Charges is £ 25 6 6 ;—It is required to find the amount of the Gain or Loss per cent.? PRODUCTS. Ex. 1. Gain 4 s. 2 d. per cwt. 2. Gain £ 13 12 1 per cent. 3. Gain £ 36 17 11-per cent. £ 15 11 11. 4. Loss £ 21 2 1-per cent. £ 6 14 6. 5. Selling Price 152 9 4. 6. Gain per cwt. £0 14 9-Selling Price per lb. 1 s. 7. Selling Price £ 46 14 3. Gain £48 11-£ 10 10 5 8. Difference £ 2 12 1 per cent. 9. Rate £0 19 per lb. per cent. 10. Net cwt. 65 1 7—Full Selling Price £ 213 17 11 Net Selling Price £ 208 11 0-Net Proceeds £ 183 4 6 Gain £ 10 10 9 per cent. PARTNERSHIP OR FELLOWSHIP. Partnership, Fellowship, or Distributive Proportion, is the distribution of a sum of money, &c. between the persons entitled to it according to the amount of their separate interests. Calculations of Fellowship are usually divided into Simple Fellowship and Compound Fellowship, according to whether the causes upon which the results depend are simple or combined. SIMPLE FELLOWSHIP. The distribution of the proceeds of any concern in which there are separate interests is usually made according to one of the methods of the four following cases.. CASE 1. When the proceeds are distributed into fractional shares. the shares. EXAMPLE. Divide £ 64 10 6 between two persons, giving one and the other ğ. £ 8. d. 64 10 6 Ex. 1. Divide £ 834 10 6 between two persons, giving one and the other. Product £ 347 14 41-£ 486 16 11⁄2. Ex. 2. Divide £ 526 14 8 between three persons, giving the first, the second, and the third. Product £230 8 11 -£164 12 1-£ 131 13 8. F 2 Uor M CASE 2. When the proceeds are distributed according to the amount of each person's Stock, or Capital. Rule. As the whole capital is to the amount to be distributed, so is each person's capital to his share of that amount. EXAMPLE. A's capital is £ 5000, B's capital is £ 3000, and C's capital is £2000, the gain is £ 800; how much is each person to receive according to his capital? £ 800 5 £ 5,000? Ex. 1. A and B have traded with a capital of £ 750; A's capital is £ 400, and B's £ 350, and they have gained £ 194 10 s., how much of the gain is each to receive? Answer. A's share £ 103 14 8, B's & 90 15 4. Ex. 2. A and B traded with a capital of £ 1200; A's capital was £ 700, and B's £ 500, and they lost £ 264 16 s.; the partnership was dissolved, and it is required to find how much each person had to receive? Answer. A's share £ 545 10 8, Bs £ 389 13 4. |