Application of the Rule of Three; OR SIMPLE PROPORTION. SIMPLE INTEREST. 8. Principal is the money lent. per Cent. is a certain sum agreed on between the Lender and the Borrower, for the use of every £100 Principal. Amount is the Principal and Interest added together. Time relates to the years, months, and days for which the Principal is lent. Example. What is the yearly interest of £875. 15s. at £3} per Cent. ? € € £ By the Directions given in the 100 : 875 15 31 3 Rule of Three, the Answer must be Interest, consequently £31 2627 1 437 17 6 is put for the 3d term. The Answer must be greater; there30,65 26 fore £875. 15s. is put for the 2d 20 term, &c. Multiply by 3]. In dividing by 100, retain the units and tens 0,30 4 place (65), and cut off the others (30) for the pounds. From the 1,20 figures retained, the shillings, &c. Example. What is the amount of £1750. 10s. 6d. for 34 years, at £4 per Cent. per annum ? £ € d. € 100 : 1750 10 6 4 S. Example. Required the interest of £793. 18s. for 2 yrs. 5 mos. 18 days, at £3per Cent. £ £ £ 3 5,10 1. Required the interest of £520. 10s. for a year at 4 per Cent. Answer, £20. 16s. 4 d. 2. What is the interest of £453. 5s. for 3 years, at £5 per cent. ? Answer, £67. 19s. 9d. 3. What is the amount of £278. 18s. 6d. for 21 years, at £3} per Cent. per annum ? Answer, £301. 11s. 9d. 4. Required the interest of 500 guineas for 9 years, at £44 per Cent. Answer, £200. 16s. 3d. 5. What is the interest of £1784. 4s. 8d. for 37 weeks, at £5 per Cent. per annum ?* Answer, £63. 9s. 6 d. 6. Required the interest of £2745. 11s. 9d. for 125 days, at £31 Answer, £32. 18s. 2d. 7. Required the amount of £494. 12s. 10d. for 41 weeks, at £41 Answer, £512. 3s. 100. 8. What is the interest of £842. 13s. 10d. for 3 yrs. 8 mos. 12 days, at £4 per Cent. ? Answer, £124. 14s. 3}d. 9. What is the interest of £532. 15s. from the 4th of March to the 23d of September, both days inclusive, at £3 per Cent. ? Answer, £8. 18s. 73d. 10. Required the amount of £1970. 4s. for 5 yrs. 7 mos. 24 days, at £3} per. Cent. Answer, £2359. 16s. per Cent.* per Cent. * To find the Interest for weeks, stateAs 52 weeks : given weeks :: interest of 1 year, to the interest required. To find the Interest for days As 365 days : given days :: interest for 1 year, to the interest required. COMMISSION AND BROKERAGE. Commission is an allowance of a certain rate per Cent. to a factor or agent, for buying or selling goods for his employer. Brokerage differs from Commission chiefly in the rate being less than £1 per Cent. Example. € £ d. € 100 978 15 8 :: 21 978 15 8 1 244 13 11 Exercises. 1. Required the commission on £427. 18s., at £2 per Cent. Answer, £8. 11s. 11d. 2. Required the commission on £615. 14s. 3d., at £31 per Cent. Answer, £21. 10s. 111d. 3. Required the commission on £1430. 3s. 6d., at £2} per Cent. Answer, £35. 15s. 1d. 4. What is the commission on £590. 19s., at £14 per Cent. ? Answer, £7. 7s. 8 d. 5. If a factor be allowed £27 per Cent., what does his commission amount to on 1000 guineas ? Answer, £27. 11s. 3d. 6. A merchant in London allows his factor in America £13 per Cent. commission; what may he demand on £2078. 15s. ? Answer, £38. 19s. 6 d. Example. € £ s. d. s. d. 7. Required the brokerage on £675. 14s. at i per Cent. Answer, £5. 1s. 4 d. 8. Required the brokerage on £1240. 10s. at per Cent. Answer, £4. 13s. 0ļd. 9. What is the brokerage on £1053. Is. 8d. at } per Cent. ? Answer, £5. 58. 3 d. 10. If a broker be allowed 5s. 6d. per Cent, what will the brokerage amount to on £829. 178. 6d. ? Answer, £2. 5s. 7fd. |