diminished by the per cent. to be lost is to 100, so is the selling price to the purchase price. Ex. 1. Sold wheat at $1.50 per bushel, and thereby gained 25 per cent. on the cost; what was the purchase price? Premium value: Par value :: Selling price : 125 per cent. : 100 per cent. :: Cost $1.50 : $1.20, Ans. 2. Sold apples at $1.75 per bbl. and thereby lost 10 per cent. on the cost; what was the cost? 90 100 1.75 : $1.943, Ans. 3. Sold 6 yds. cloth for $30 and gained 12 per cent. on the cost; what was the purchase price per yard? 4. Sold 10 shares of the Fitchburg R. R. stock for $800, and thereby lost 20 per cent. on the cost; what did I pay per share? 270. Prob. 5.—If goods be sold at a certain price, and there be gained or lost a certain per cent. on the cost, to find what would be gained or lost per cent., if sold at some other price, RULE. As the actual price is to the proposed price, so is 100 increased or diminished by the gain or loss per cent. to 100 increased or diminished by the gain or loss per cent. when sold at the proposed price. Ex. 1. Sold flour at $7 per bbl. and thereby gained 163 per rent.; what per cent. should I have gained if I had sold it at $7.50? $7 1163 : 125, and Actual price: Proposed price : 100+gain per cent. : 100+gain per cent. : $7.50 :: 125 per cent. 100 per cent. 25 per cent., Ans. 2. Sold beef at $6 per cwt., and thereby lost 5 per cent.; should I have gained or lost, and how much per cent., had I sold it at $7? $6 $795 110%, and 1105 -100 103 per cent. gain, Ans. 3. Sold a farm for $5000 and thereby made 25 per cent.; should I have gained or lost, and how much per cent., if I had sold it for $3000? 4. Sold a pair of oxen for $175 and gained 5 per cent; what per cent. should I have gained if I had sold them for $200 ? 271. PROB. 6.-To mark goods so that the merchant may fall a certain per cent. on the marked price and yet sell the goods at cost or at a certain per cent. above or below cost. (a) To sell at cost, RULE.-Multiply the per cent. to be deducted from the marked price by 100, and divide the product by 100 diminished by the same per cent.; the quotient will be the per cent. by which to increase the first cost of the goods. Ex. 1. By what per cent. shall $18 be increased, that from the sum I may subtract 10 per cent. of that sum and still leave $18? 2. Bought watches at $38; at what per cent. of increase shall I mark them to enable me to fall 5 per cent. and still sell them at cost? Ans. 5. (b) To sell at a certain per cent. above or below cost, RULE. ·Increase or diminish the cost by the sum to be gained or lost, and call the result the cost; then proceed by the rule in 271, a. Ex. 1. How shall I mark a watch which cost $40 so that I may fall 15 per cent. on the marked price and yet make 25 per cent. on the first cost? Ans. $58.82 नै $40. cost. 100 X 15 1500 300 85 17++. 17 $8.82 35 discount from marked price. $58.82 $8.8 235 $50 selling price, as above. f 7 = 2. Bought a piece of broadcloth at $5 per yard, but, it being damaged, I am willing to lose 20 per cent. on the cost; how shall I mark it so that I may fall 25 per cent. from the marked price? Ans. $5.33. REMARK. By the rule we find that the selling price, $4, must 100% - 15% = of itself; but the same result may be obtained by analysis as follows: Since the marked price is to be diminished by 25 per cent. of itself, the selling price must be the remaining 75 per cent. of the marked price; now, if $4 is 75 per cent., of $4 $1.33 is 25 per cent., .. 100 per cent. is 4 times $1.333 = $5.33, the answer as before. = Or we may make a proportion; thus, 75 per cent.: 100 per cent. :: $4: $5.333, the marked price, Ans. as above. Let the learner solve the following examples by each of the above methods. 3. Paid $4 a pair for a case of boots; how shall I mark the same so that I may fall 10 per cent. from the marked price and yet make 25 per cent. on the cost? 4. Paid $8 each for a case of bonnets; how shall I mark the same so that I may fall 12 per cent. from the marked price and yet make 10 per cent. on the cost? 5. Bought a pair of oxen for $150; what shall I ask for them so that I may fall 5 per cent. and yet make 5 per cent. on the cost? 6. Bought a horse for $175; what shall I ask for it so that I may fall 20 per cent. and yet lose but 5 per cent. on the cost? 272. MISCELLANEOUS EXAMPLES IN PROFIT AND Loss. 1. Bought 10 tons of hay for $155 and sold 1⁄2 of it at $15 per ton and the remainder at $17; did I make or lose? how much? 2. What do I gain per cent. if I buy hats at $3 and sell them at $4.50 each? 3. Bought shoes at $1.50 per pair and sold them at $1.25; what per cent. on the cost was lost? 4. Sold potatoes at 75c. per bushel and lost 10 per cent. on the cost; for what should they be sold to gain 25 per cent.? 5. Paid $3 per yard for a case of wrought laces; how shall I mark the same to enable me to make a discount of 25 per cent. from the marked price and yet gain 50 per cent. on the cost? 6. Sold cloth at $4 per yard and lost 10 per cent.; should I have gained or lost, and how much per cent., if I had received $4.25 ? 7. Sold a watch for $40 and lost 12 per cent. on the cost; what was the cost? 8. A merchant bought broadcloth that was 17 yards wide for $3.50 per yard, but the cloth, getting wet, shrunk 5 per cent. in width and 10 per cent. in length; at what price per square yard must it be sold to gain 5 per cent. on the cost? § 30. PARTNERSHIP. 273. PARTNERSHIP is the association of two or more persons in business. The company thus formed is called a firm or house. The money or other property invested is called the capital or stock of the company. The members of the firm are called stockholders. The profits distributed from time to time among the stockholders are called dividends. 274. Ex. 1. A and B trade in company; A furnishes $500 and B $700; they gain $480. How shall the partners share the gain? Since A furnishes of the stock, he is entitled to of the gain, i. e. of $480 = $200; and, for a like reason, B is entitled to of the gain $280. 12 (a) Or we may make a proportion; thus, Whole stock A's stock: Whole gain: A's gain. $1200 $1200 : $500 :: $480 : $200; and Whole stock: B's stock :: Whole gain : B's gain. : $700 :: $480 : $280. Hence, |