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100 X 6= 600
120 X 7= 840

160 X 10= 1600

100+120+160-380)3040(8 months, Anf.

3040

2. A owes B 1041. 15s. to be paid in 4 months, 1611. to be paid in 3 months, and 1521. 5s. to be paid in 5 months: what is the equated time for the payment of the whole? Anf. 4 months and 8 days.

3. There is owing to a merchant 6981. to be paid 1791 ready money, 200l at 3 months, and 320l. in 8 months; I demand the indifferent time for the payment of the whole? Anf. 4 months.

4. The fum of 491. 1s. 6d. is to be paid 1⁄2 at 6 months.at 8 months, and at 10 months; what is the mean time for the payment of the whole ?

Anf. 7 months.

RULE 2. See by Rule 1ft, at what time the firkt man, mentioned, ought to pay in his whole money; then as his money is to its time, fo is the other's money to his time inverfely, which, when found, muft be added to or fubtracted from, the time at which the second ought to have paid in his money, as the cafe may require, and the fum, or remainder, will be the true time of the fecond's payment.

EXAMPLES.

1. A is indebted to B 150l., to be paid 50l. at 4 months, and 1ool. at 8 months: Bowes A 250l. to be paid at 10 months: It is agreed between them, that A fhall make prefent pay of his whole debt, and that B fhall pay his fo much the fooner, as to balance that faour; I demand the time at which B maft pay the 250l. reckoning fimple interest ?

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50+100=150) 100fo(63 months, A's equated time.

90

10

£. mo. £. mo.

mo. mo. mo.

As 150: 63: 250: 4 then 10-4-6 time of B's

(payment.

2 A merchant has 1200 due to him, to be paid at 2 months, at 3 months, and the reft at 6 months; but the debtor agrees to pay down; how long may the debtor detain the other half, fo that neither party may sustain lofs ?

mo. mo. Now, as was paid 4 months beX 2= ofore it was due, it is reasonable that X 3 = 1 he should detain the other month, after it became due, which, added, gives 83 months, the true

6

Equated time 43 time for the fecond payment.

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4

Is an allowance of fo much per cent to a factor, or correfpondent abroad, for buying and felling goods, for his employer.

I.

EXAMPLES.

What comes the commiffion on £539 12/9 to, at 4 per cent. ?

539

* The method of working questions in this Rule, Brokerage and the first case of Infurance, is the fame as in Simple Interest

B.B. 2

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2. My factor receives £1008 to lay out after having deducted his commiffion of £5 per cent. ; what does his commiffi ion amount to?

Here, as his commiffion is to be deducted from the given fum, it is evident that I ought not to pay him commiffion on his own money (which, however is often unjustly practised) therefore,

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As 105

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5 1008 48 Anf.

3. My correfpondent writes me that he has purchased goods to the value of £673 12s. ; what does his commiffion on that fum amount to, at £3 per cent. ?

BROKERAGE

Anf. £23 11 6.

Is an allowance of fo much per cent. to a perfon called a Broker, for affilting merchants or factors in purchafing or felling goods.

EXAMPLES.

1. What is the brokerage upon £525 10s. at 5s. or £4 per cent. ?

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2. What is the brokerage upon £673 16s. at £ per

cent.?

3. If a broker fell goods to the Id.; what is his demand, at £1

Anf. £4 4 2 amount of £709 198. per cent. ?

Anf. 101. 12 114

BUYING AND SELLING STOCKS.

Stock is a general name for the capitals of trading companies, banks, &c. and the buying and felling certain fums of money in those funds, is not unusual.

EXAMPLES.

1. What is the purchase of 2751. 158. bank stock, at 7421 per cent.?

£74 want 251 of 100%. ' £20
therefore, take parts for the de-
ficiency, and fubtract the fum of
thofe parts from the given fum.

13

6. S. 275 15 0

1

£5

55 3 0

1

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13/15 9

1. 7 62

Subtract 70 6 33

Anf. £205 8 84

Or,

Or, If I had taken parts for 741. the rate per cent. then the fum of the feveral quotients would have been the anfwer as above.

When the price is above 100, take parts for the furplus of the price above 100, and add them to the given fum for the answer.

2. What is the purchase of 10291. Fcs. 6d. bank ftock, at 11041 per cent?

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Anf. £ 1135 10 at£10 per cent.

3. What does 1600l. capital stock in the Maffachuchusetts bank come to, at 120l. per cent. ?

Anf. 19221.

POLICIES OF INSURANCE.

Infurance is a fecurity or affurance, by means of a Writ called a policy, to indemnify, the infured of fuch Joffes as fhall be fpecified in the policy fubfcribed by the infurer or infurers, by which the underwriters oblige themselves to make good and effectual the property infured, in confideration of a certain premium at a ftipulated rate per cent. (which varies according to the risk) to be immediately paid down, or otherwife fecured accor ding to the tenor of the agreement.

The average lofs is 10 per cent.-that is, if the infured fuffer any damage or lofs, not exceeding 10 per cent. he bears it himfelf, and the infurers are free.

A policy fhould be taken out for a fum fufficient to cover the principal and premium, and the bufinefs of this rule is, in general to calculate what that fum fhould be.

CASE

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