worth from the given sum, and the remainder will be the Discount. Note. When Discount is made without regard to time it is found precisely like the interest for one year. What is first to be done when you wish to find the answer? After having found the interest of 100 dollars at the given time and rate per cent. what is next to be done? After having added the interest so found to 100 dollars or pounds, by what rule do you work to find the Discount? When Discount is made without regard to time, how is it found? Examples. 1. What is the present worth of 420 dollars, due in 2 years, discount at 6 per cent, per annum ? 2. What is the present worth of 850 dollars due in 3 months, at 6 per cent. per annum ? Ans. 837.43 8m+ 3. What is the discount of $645 for 9 months, at 6 per cent. per annum ? Ans. $27.77cts. 6m. 4. What is the present worth of 775 dollars 50 cents due in 4 years, at 5 per cent. per annum ? Ans. $646.25. 5. What is the present worth of 580 8 months, at 6 per cent per annum ? 6. What is the present worth of 954 3 years, at 4 per cent. per annum ? dollars due in Ans. $557.69+ dollars, due in Ans. $840.52ct. 8m.+ 7. What is the discount of 205 dollars due in 15 months, at 7 per cent. per annum? Ans. $16.49 5m.+ 8. Bought goods amounting to 775 dollars, at 9 months credit, how much ready money must be paid, allowing a discount of 5 per cent. per annum ? Ans. $746.98 7m. 9. I owe A. to the value of 1005 dollars, to pay as follows, viz. 475 dollars in 10 months, and the remainder is 15 months, what is the present worth, allowing discount at 6 per cent. per annum? Ans. $945 40 4m. 10. What difference is there between the interest of 2260 dollars at 6 per cent. per annum for 5 years, and the discount of the same sum for the same time and rate per cent.? Ans. 156.46 2m.+ 11. What is the discount of 520 dollars at 5 per cent.? 520 $26,00 Ans. 12. How much is the discount of 7827. at 4 per cent.? Ans. 311. 5s. 7d. 13. What is the discount of 476 dollars at 3 per cent.? Ans. 14dol. 28ct. 14. Received goods on credit, amounting to 1385 dollars, how much ready money must be paid for them, if a discount of 6 per cent. be allowed? Ans. 1301 dol. 90ct. 15. I hold A's note for 650 dollars but I agree to allow him a discount of 4 per cent. for present payment, what sum must I receive? Ans. 620dol. 75ct. Equation is used to find the mean time of several payments due at different times, Rule. Multiply each payment by the time at which it becomes due, add the several products together, and divide the amount by the whole sum, the product will be the mean time. Questions. For what purpose is Equation used? By what rule do you find the mean time at which several payments become due? Examples. 1. I owe A. 2007. of which 100l. are to be paid at 3 months, and 100%. at 9 months, but they agree to reduce them to one payment, when must the whole be paid? 2. A merchant has owing to him 500 dollars to be paid as follows, viz. 250 dollars at 6 months, 250 dollars at 8 months, but they agree that the whole shall be paid at one time, when must it be paid? Ans. 7 months. 3. A. owes B. 300l. to be paid as follows, viz. 1007. at 2 months, 1007. at 4 months, 100l. at 6 months, but they have agreed that the whole shall be paid at one time, when must it be paid? Ans. 4 months. 4. C. owes D. 550 dollars, of which 100 dollars, to be paid at 3 month, 200 dollars at 5 months and 250 dollars at 8 months, but have agreed to make one payment of the whole, at what time must it be paid? Ans. 6 months. BARTER. Barter is the exchange of one commodity for another at such prices as may be mutually agreed on. Rule. 1. By any rule most convenient find the value of whatever you propose to exchange, at the price at which you propose to exchange it. 2. As the price of one of the articles which you receive, Is to the whole quantity, So is the whole value of what you give in exchange, To the answer required. What is barter? Questions. What is first to be done when you propose to barter one commodity for another? After having found the value of the article you propose to exchange,how do you proceed to find the answer? Examples. 1. How many pounds of coffee at 25 cents per pound, must be given in barter for 2 Cwt. 2 qr. 13 lb, of sugar at 9 cents per lb.? Ans. 105lb. 7oz.+ 2. What quantity of tea at $1.30 per pound, must be given for 2500 lb of rice at 44 cents per lb.? Ans. 86lb. 8oz.+ 3. How much sugar at 84 cents per pound, must be given for 108 lbs. of tea at 1 dol. 25 cents per lb.? Ans. 1542b. 13oz. 4. A. has rice at 3 dollars and 75 cents per Cwt., for which B. is to give him nutmegs at $1.87 per lb, how inany pounds of nutmegs must A. receive for 14 Cwt. 3 qr. 26 lb. of rice? Ans. 30lb.+ 5. C. has linen at 35 cents per yard, but in barter he will have 37, D. has 2 Cwt. 3 qr. 17 lb. of chocolate which he would sell for 10 cents per lb. but in barter he will have 12 cents, how much linen must D. receive for his chocolate? Ans. 109 yards 3 qrs. 6. How much corn at 45 cents per bushel is equal in value to 357 bushels of wheat at 93 cents per bushel? Ans. 737 bushels 3 pecks.+ 7. What quantity of candles at 9 dol. 50 cents per Cwt. must be given for 15 Cwt. 0 qr. 27 lb. of tobacco Ans. 35 Cwt. 3 qr. 20 lb.+ at 20 cents per lb.? 8. E. has 5 pieces of muslin each piece containing 95 yards at 23 cents per yard, for which F. is to give him 32 sheep at 2 dols. 50 cents each, and the remainder in rye flour at 1 dol. and 50 cts. per hundred, how many hundreds of flour must E receive? Ans. 19 Cwt. 2 qr. 9. A merchant has 1286 yards of linen at 43 cents per yard, for which he is to receive 2 Cwt. 1 qr. 13 lb. of chocolate at 14 cents per lb. and the rest in money, how much money will he receive? Ans. $515.88. 10 A. has 570 lb. of sugar 7 cents per lb., for which B. is to give him cheese at 114 cents per lb., how much cheese will A. receive? Ans. 346 lb. 15 oz.+ 11. G. gave 112 Cwt. of iron, at 5 dol. 4 cents. per Cwt. for which he received 1208 yards of cloth, what was the cloth per yard? ·Ans. 46ct. 7m. + 12. A grocer had sugar at 8 cents per lb for some of which B. gave 750 lb. of tea at 1 dol. 8 cents per lb., how many lb. of sugar must B. receive for his tea? Ans. 90 Cwt. 2 qr. 21 lb. 13. C. gave 2 hogsheads of brandy, at 75 cents per gallon, to D. for 56 yards of cloth, what was the cloth per yard? Ans. 1dol. 683ct. 14. E. has 2108 lb. of flax, at 10 cents per lb and 31 dozen of eggs at 111⁄2 cents per dozen, which he barters with F. thus, to have 135 dol. 25 cents in money, and the rest in pork. at 1 dol. 53 cents per barrel, how many barrels is he to receive? Ans 50 barrels.+ 15..Two persons barter, A. has 17 Cwt. of hams, at 13 cents per lb., B. has 1200 lb of cheese at 14 dollars per Cwt., which of them must receive money, and how much? Ans. A. $107.04. 16. C. has sugar, which he barters with D. at 5 cents per lb. more than it cost him, against coffee, which stands D. 20 cents a pound but put it to 25 cents; How much did the sugar cost at first? Ans. 20 cents. 17. E. has flannel worth 50 cents per yard ready mo. ney, but in barter he will have 56 cents, H. has muslin worth 31 cents in ready money; at what price ought the muslin to be rated in barter ? Ans. 35 cents. 18. S. bought of W. 105 tons of iron at 10 dols. 3 |