5. What will it cost to insure a house worth $2500 at of its value, for three years, at 3% ?

6. Insured a country store for $5,000 and goods for $10,000, at 30g on $100. $1 is paid for the policy. What does the insurance cost?

7. What will it cost to insure a mill for $5000, the rate being one and one-half per cent for 3 years?

8. How much will I save by insuring my property for $5000 at ğ of one per cent for 3 years, rather than taking an annual policy for of one per cent ?

9. It costs me to

is of one per cent.

insure my house $22.50 when the rate What is the amount of my policy?

10. A stock of goods is insured for one-half the value, the premium being $30, and the rate of one per cent. What is the value of the goods?

11. The semi-annual premium per one thousand dollars on my $6000 life-insurance policy is $26. What does it cost me a year?

12. A person who pays $12 semi-annually for accident. insurance is disabled by an accident for 13 weeks, during which time he receives $10 a week. If he has paid three premiums, how much more does he receive than he has paid out?

13. Paid for insuring a house for 3 of its value, $151. The rate being 75g on $100, and the policy costing $1, what was the house worth?

14. To insure a house at of 1% cost me $20. What was the house worth?

15. Paid $18 for insuring goods worth $9000. What was the rate?

16. A merchant pays $75 a year insurance on his stock of goods at 11%. What is the value of his stock of goods?

17. A block worth $30000 is insured for 3 of its value at 2%. How much does the owner lose in case of its total destruction by fire?

18. For how much must a cargo of wheat worth $24000 be insured, at 21%, so that the owner, in case of loss, may recover both the value of the cargo and the premium.

The value of the wheat = 97% of the amount insured.

TRADE DISCOUNT.

259. The deduction of a percentage from the price of merchandise is called Commercial Discount.

It is used largely by manufacturers and wholesale merchants. The greatest discounts are for large purchases and cash payment.

260. The List Price is the price given in the price-list.

261. The Net Price is the list price less the discount. 1. If I can purchase books at 25% off for cash, what must I pay for books listed at $80?

SOLUTION. 100% -25% = 75%. 75% of $80 ·

$60. Ans.

NOTE. - When two or more discounts are allowed, the first is deducted, the second computed on the remainder, and deducted from it, etc.

2. At what per cent above cost must a merchant mark his goods so that he may allow a discount of 25% from the marked price, and still make a profit of 10% ?

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SOLUTION. Selling price 110% of cost. This selling price is 75% of the marked price. The question is, 110% is 75% of what. 1.1075 = 1.463%, therefore the marked price is 463% above cost.

3. Find the sum to be paid on a bill of $264 with 10% off for cash.

4. What is the net price of a bill of goods, the list price of which is $56, subject to discount of 25% ?

5. What must be paid on $935, if 15% and 10% off are allowed?

SOLUTION. Deducting 15% is the same as allowing 85% of the bill. 85% of 935 794.75. 90% of 794.75 = 715.28. Ans.

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6. Which is the better for the buyer, 40%, or 25% and 15% off?

7. Find a single discount on a bill of $300 equal to 20% and 5% off.

8. A discount of $4 was allowed on a bill, which was then paid with a check for $36. What rate per cent was taken off?

9. Consulting my price-list, I find I can buy goods which are marked $450 at a discount of 20% and 5% off for cash. How much will the goods cost me? and how much discount do I receive?

10. Bought furniture amounting to 6 months, or 5% discount for cash. will pay the bill?

$520 on credit for What ready money

11. What is the cash value of a bill of books amounting to $40, on the face of which a discount of 20% and 5% is made?

12. The net amount of a bill of goods is $359.10. What is the gross amount, the rate of discount being 10% and 5%?

13. A set of Encyclopædias, whose catalogue price is $100, can be bought at a discount of 2 tens and 5% off for cash. How much less than the catalogue price will they

cost?

NOTE. — The expression 2 tens and 5% means 10%, 10%, and 5%. 14. B offers me some hammocks for $450 with a discount of 20%, and 4% off for cash; and A offers me the same goods at a discount of 2 tens and 4% off. Which is the better offer? and how much?

15. A dealer sold goods at 10% below his asking price, but still made a profit of 20%. What per cent above cost had he marked the goods?

16. A merchant marked carpeting that cost him 60 cents a yard so that he could allow a discount of 10% and still make a profit of 20%. At what price did he mark it?

17. A book-dealer sold a stock of books for $1140, at a discount of 10% from the marked price, and finds that he has made a profit of 14%. What did he pay for the books? and what was their marked value?

18. Find the net amount of a bill for $386 subject to the following discounts, 20%, 10%, and 5%.

TAXES

262. A tax is a sum of money levied upon property and persons for public use.

NOTE. - A tax upon persons is called Capitation or Poll Tax. It is levied in some localities upon men of full age, without regard to their property. It is usually but a small amount upon each person. The practice is going out of use.

263. Property is of two kinds, Real and Personal.

264. Real Property is immovable property, as lands and buildings.

265. Personal Property is property that is movable, as money, securities, household goods, horses, cattle, etc.

266. A tax assessed upon property is a Property Tax. 267. Assessors are officers chosen to make a list of taxable property, estimate its value, and apportion the tax. 268. A tax is a percentage upon the assessed valuation of property. The tax on $1 is the rate.

1. The valuation of property in a certain town is $1,500,000, and the rate is 11%. What is the tax?

2. The tax to be raised in a certain village is $37500. The taxable property is $2,500,000. What is the rate? What will be A's tax on $15000 real estate, and $3000 personal?

3. The property of a town is assessed at $1,250,000. The tax to be raised is $15975. There are 650 polls, assessed at $1.50 each. What is B's entire tax, if his property is assessed at $2500, and he pays the polltax?

Rule. - Deduct the amount of poll-tax, if any, from the whole tax. Divide the remainder by the assessed valuation. The quotient will be the rate.

To find each person's tax, multiply the assessed valuation by the rate, and to the product add the poll-tax, if any.

4. The officers of a certain town find that all the town expenses for the year 1896 will amount to $46000. The tax-roll shows real estate valued at $2,000,000, and personal property at $300000. What is the rate of taxation?

5. A certain town votes to raise a tax of $14250, besides the collector's commission of 5%. What is the rate of taxation if the property valuation is $1,000,000 ?

What is the collector's commission, and what is A's tax, on property valued at $4,500 ?

6. If the assessed valuation of a village is $2,384,564, and there are 750 polls at $1.50 each, what must be the rate of taxation to meet an expense of $29807.05? What is B's entire tax, if his property is valued at $3875, and he pays for 1 poll ?

7. What is the valuation of my property, if my tax, 15 mills on a dollar, amounts to $30.