1

BUYING AND SELLING STOCK.

1. What is the amount of $1564 United States Bank

2. Sold 15 shares $100 each, of the Marine Bank of Baltimore, at 13 per cent. advance, what is the amount? Ans. $1695.

3. What is the value of 10 shares in the Philadelphia and Trenton Railroad stock, at 85 per cent. original shares being $100? Ans. $850.

4. What must be given for 8 shares in the Baltimore and Ohio Railroad stock at 10 per cent advance, the original cost being $100 each? Ans. $880.

5. What will $1686 corporation notes of the city of Wilmington, Del. be worth at 911 pr ct. Ans. $1542.69.

Ᏼ Ꭺ Ꭱ Ꭲ Ꭼ Ꭱ .

When one commodity is traded for another, it is called Barter.

1. How much sugar at 10 cents per lb. must be given in barter for 750 lbs. of raisins at 6 cents per lb.?

Ans. 450 lbs. Illustration.-750 lbs. raisins at 6 cts. is $45. Now the question is, how many lbs. of sugar must we get for $45; divide $45 by 10, and we get 450 lbs.; hence, 450 lbs. sugar at 10 cts. is equal to 750 raisins at 6 cts. 450 x 10 = 750 × 6 = $45.

2. Aaron Abel, bought of Ben. Bailey, 6 hogsheads of rum, containing 410 gallons, at $1.17 per gallon, and

253 pounds of coffee at 21 cents per pound, in part of which he pays $21 in cash, and the balance in boards at $4 per thousand, how many feet of boards did the balance require? Ans. $127957 ft.

3. Richard Rich has 240 bushels of rye, which cost him 90 cents per bushel, this he trades with Peter Parley at 95 cents for wheat, that stands Parley 99 cents per bushel, how many bushels of wheat is he to receive in trade, and at what price is it to be rated in order to make the barter equal?

Ans. 218 bush. at $1.04 cts. per bush. 4. A. has sugar which he barters with B. for 4 cents per lb. more than it cost him against tea, which cost B. 40 cents per lb., but which he puts in barter at 50 cents, what did A's sugar cost him per lb. Ans. 16 cts.

5. A merchant delivered 3 hhds. of wine at $1.10 per gallon for 126 yards of cloth, what was the cloth per yard? Ans. $1.65. 6. A farmer traded 20 bbls. flour at $5.60 per bbl., for salt at $3.50 per barrel, how many barrels of salt must the farmer receive for his flour? Ans. 32 bbls.

7. How much corn at 45 cts. per bushel will pay Ans 77 bushels.

33 yds. cassinet at $1.05 per yd?

for

8. D. Greves has 100 cords oak-wood for sale, worth $4 per cord cash, and is offered $4.25, payable on a credit of twelve months, which is the most advantageous, the cash or credit sale? Ans. the credit by 94 cents, allowing discount at 6 per cent. per annum.

9. A. gave B. 2 hhds. of brandy at 75 cents per gallon, for 56 yards of cloth, what was the cloth per yard? Ans. $1.683.

10. What quantity of tea at $1.30 per lb. must be given for 2,500 lbs. of rice at 4 cents per pound? Ans. 86 lbs. 8 ozs.

11. A grocer had sugar at 8 cents per lb. for some of

which, B. gave 750 lbs. of tea at $1.08 per pound, how many lbs. of sugar must B. receive for his tea?

Ans. 90 cwt. 1 qr. 17 lbs. 12. John Doe, bought of Richard Roe, 104 tons of iron at $10 per ton, and is to pay as follows, viz: in cash $600, 240 lbs. sole leather at 33 cts. per lb., and 10 loads of coal, each containing 12 bushels at 374 pr. bush. 90 gallons of brandy at the rate of $75 per hhd., and the balance in coffee at 12 cents per lb., how much coffee is Richard Roe to receive? Ans. 1662.

13. Two persons A. and B. barter, A. has 17 cwt. of hams at 12 cents per lb., B. has 1400 lbs. cheese at $10 per cwt.; which of them must receive money and how much? Ans. A. $113.

14. A man exchanged 40 bushels of salt at 87 cents per bushel for 200 bushels of oats at 183 cts. per bushel, how much was the balance in his favor? Ans. $2.50.

15. A farmer sold a grocer 20 bushels of rye at 624 ́cts., 200 lbs. cheese at 10 cts. per lb.; in payment he received 20 gals. of molasses at 25 cts. and the balance in cash, how much money did he receive? Ans. $27.50.

16. A farmer sold a grocer 15 barrels of apples, each bbl. containing 3 bushels, at 40 ets. per bushel, 30 bush. of corn at 90 cts.. per bushel, 500 lbs. of cheese at 8 cts. per lb., 200 lbs. of butter at 15 cts. per lb., 20 bushels of onions at 75 cts. per bushel. In payment he received 4 barrels of Monongahela whiskey, each 314 gallons at 331 cents per gallon, 80 gallons of molasses at 35 cents per gal., 4 bags of Laguayra coffee, each containing 150 lbs. at 10 cts. per lb., what is the balance?

Ans. 0.

17. A. has B's note for $535, payable in 14 months, and to redeem it for prompt payment, gives him 160 bushels of corn at 45 cts. per bushel, 122 do. wheat at $1 per bushel, 80 of rye at 90 cts. (market price,) and the balance in brick at $10 per thousand, how many thousand must A. deliver? Ans. 23 thousand..

LOSS AND GAIN,

Is one of the imaginary accounts in Double Entry Book Keeping, and so called in order to supply the want of real or personal titles in recording gains and losses, which could not with propriety be placed to real or personal accounts. It is by this Rule, that merchants discover the gain or loss in business, and the rate per cent. in buying or selling goods.

Q. What does the words buy or bought, sell or sold imply in this rule?

A. Buy or bought, means the first cost of the goods, sell or sold, the sales made.

Q. What does the first cost or invoice refer to?

A. The debtor side of a merchandise account.

Q. What does the items sold refer to?

A. The credit side of a merchandise account.

Q. How is a gain ascertained?

A. By taking the difference between the first cost and the sales.

Q. How is a loss ascertained'

A. When the amount sold is less than the first cost, take the difference, that difference will shew the loss.

CASE I.

First cost and a gain given to find the rate per cent. RULE. Take the difference between the first cost and the sales. Then say as the first cost is to the difference, so is 100 to the rate per cent.

Ex. 1. Bought coffee at 10 cts. per lb. and sold it for 12 cts., how much is the gain per ct.? Ans. 20 pr. ct.

Sold for

12

Bought for 10

As 10:

2 gain: 100 = 20 pr. ct. Ans.

CASE IL.

Given the first cost and a loss to find the rate per cent.

RULE. As the first cost is to the loss, so is 100 to the rate per cent.

Ex. 2. Bought sugar at 8 cts. per lb. (which was damaged,) and had to dispose of it at 5 cts. per lb., how much is the loss per cent? Ans. 37 pr. ct.

To gain a certain per centage.

RULE. AS 10 per cent is of a hundred, add to the first cost. Thus, ' of $4.00 is 40 cts. which added, make $4.40, the selling price required; or, agreeably to the common method, say as 100: 110: $4.00 = $4.40 as before. The first method is more concise, and therefore, the best.

1. Admitting I purchase cloth at $4 per yard, and wish to gain 10 per cent, how much is the selling price?

2. Bought calico at 20 cts. per yard, and want to gain 25 per cent, how much must be the selling price per yard? Ans. 25 cts.

CASE IV.

Selling price,gain and rate per cent given to find the first cost. RULE.--Add the gain per cent. to 100, then say as 100 with the given per centage added, is to 100, so is the retail price to the first cost.

1. Suppose the retail price to be $5 per yard for cloth, and the gain 25 per cent, how much is the first cost? Ans. $4.00 per yard.