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5. If my factor received £17.10 51168, by an allowance of 31 per cent ; what was the sum he disbursed ?
3 10 : £ 100 :: £17. 10 57 768 £ 20
20 3360100)1682268100(500 136
16800 Ans. 70
Ensurance is an exemption from hazard, obtained by the payment of a certain sum, which is generally so much per cent. on the amount of the property ensured.
The amount ensured is called the principal.
Note. The premium is found when the amount ensured, and rate are given ; in the same manner as commis sion is found.
EXAMPLES 1. What must I pay for ensuring a ship and cargo, valued at $ 56000 at 2 per cent ?
2. What must be paid for ensuring $9358, at 11 per cent?
Ans. $140,37. When it is required to ensure a sum sufficient to cover both principal and premium, the principal and rate given.
Subtract the rate from 100, then say, as the remain. ing sum is to 100, so is the given principal to the sum required.
3. My ship and cargo is valued at $64000; what sum must I ensure to cover both principal and premium, when I pay 21 per cent, for ensurance ? $100
97,50 ; 100 :: 64000 2,50
Premium to subtract, 1641,02,5,6,25
From sum ensured, 65641,02,5 Remains first sum nearly, 63999,99,9,3,75.
NOTE. This proof falls short of the first sum given by 1967 of a mill, owing to the remaining fraction in the operation for finding the sum to ensure, being omitted in this.
4. I have shipped goods to the value of $9165,60, how much must I ensure to cover both principal and premium, when I pay 5 per cent? Ans. $9648.
5. What must be paid for ensuring $4630, at 71 per cent ?
Ans. $347,25. 6. I shipped goods and ensured $6000, which covered principal and premium, and paid 5 per cent ; what was the value of the goods ?
Ans. 85700. Nore. The value of the goods is found by finding the premium for $6000 at 5 per cent, and subtract the premium thus found, from the sum it was found for.
7. A merchant shipped goods to the amount of 84000, paid charges of shipping $60, freight he is to Pay $100, the duties at the foreign port he expects will be $50, he ensures the whole at 5 per cent ; how much does he pay for ensurance ? Ans. $231,25.
Brokerage is the pay or reward of a broker, who pro
a market for goods, &c. and is sometimes so much per cent. on the amount of the goods sold by their assistance ; sometimes so many shillings pero cent, or rather so many shillings on every 100 pounds, which is meant when expressed, so many shillings per cent; sometimes it is expressed so many cents per cent. which is understood so many cents on every 100 dollars, &c.
Note. Questions in this rule are proved by varying their order. See the second example varied for proof.
CASE I. When the brokerage is so much per cent. as 1 per cent, 5 per cent, &c. proceed as in finding the commission.
EXAMPLES 1. A broker has procured the sale of goods for me, to the amount of 82563,25 ; what will bis brokerage come to at 11 per cent ?
Ans. $38,44,8, 75. 2. My broker has procured the sale of goods for me 10 the amount of $7369,46 ; what will his brokerage come to at į per cent ?
Ans. $ 36,84,7 ,3. To prove this.
3. If I pay a broker $36,84,7,3, and allowed him į per cent, to what amount did he find sale for me?
Ans. $7369,46 CASE II. When the brokerage is so many shillings &c. per cent.
RULE. Divide the given sum by 100, and then take parts of the quotient with the rate per cent.
EXAMPLES. 1. What will the brokerage for £7364 11 6 come to at 4s. 6d. per cent ? £7.3 64 11 6 48.73 12 104 20
60. 14 14 62 91
1 16 94 12
A.£16 11 44 rejecting 10 98
3 92 2. What is the brokerage for £700 14 6, at 45. per cent?
Ans. £ 1804 3. What is the brokerage for £ 500 10 7, at 75. per cent?
Ans. £ 1 1504 4. What is the brokerage for £909. 14 10, at 6s. 6d.
Ans. 62 19 11 CASE III. When the brokerage is so many cents
per cent ?
In this case are four yarieties.
Rule. Multiply the given sum by the cents per cent, and point off four places of right hand figures, those at thie
left of the point will be dollars, the next two figures at the right of the point, are cents, the next figure a mill, or mills, &c.
EXAMPLES. 1. What is the brokerage for $7364, at 36 cents
per cent ?
2. What is the brokerage of $9643, at 75 cents per cent?
Ans. $72,32,2,5. 3. A broker has sold goods for me, to the amount of $17630 ; what must I pay him, allowing 80 cents per cent?
Ans. $141,04. Var. 2. When the given sum is dollars and cents.
RULE. Multiply as in the first variety, and point off six right hand figures, all at the left of the point will be dollars, &c. as before.
EXAMPLES. 1. Required the brokerage for $9642,36, at 47 cents
Ans. $55,31,9,092 2. A broker has procured the sale of goods for me, to the amount of $11637,75 ; what may he demand when I allow him 55 cents per cent ?
Ans. $64,00,7 ,625.