7. What is the value of $2,500 of stock at 20 pr. ct. advance? A. $3,000.00 8. What is the value of $6,000.00 of stock at 15 pr. ct. advance ? A. 6,900.00

9. What is the value of $9,854.25 of stock at 113 pr. ct.? A. $11,135.3025 NOTE. Stock is bought and sold by even shares. We have given some examples in which the shares are not regarded, as affording a better exercise. 10. What is the value of $823.00 of stock at 4 pr. ct. advance ? A. $855.92 11. What is the value of $1,976.44 of stock at 111 pr. ct.? 12. What is the value of $366,000.00 at 114 pr. ct.? 13. What is the advance on $600.00 at 6 pr. ct. advance? A. $36.00

14. What is the advance on $5,460.00 at 116 pr. ct.? COMMISSION. 1. If my agent sells goods to the amount of $2,317.46, what is his commission at 3 pr. ct.? A. $75.31745 2. What commission must be allowed for a purchase of goods to the amount of $1,286.00, at 2 pr. ct.? A. $32.15 3. What commission shall I allow my correspondent for buying and selling on my account, to the amount of $2,836.23 at 3 pr. ct.? 4. A merchant paid his correspondent $25.00 commission on sales to the amount of $1,250.00. At what pr. ct. was the commission? 50-180.022 pr. ct. Ans. 5. If $76.25 be paid as commission on $3,900.00, what pr. ct. commission is allowed?

He paid him

6. A factor receives $988.00 to be laid out in goods, after deducting his own commission at 4 pr. ct. What sum did he lay out for his employer?

He evidently ought only to receive commission on the money laid out. Then, as the money laid out is of itself, and the commission T, the money laid out, together with the commission, must be. Then, $988 is 1.04 times the answer.

$950 Ans.

988÷1.04

7. I remit $2,963.75 to my correspondent to be laid out for me, directing him first to deduct his own commission at 3 pr. ct. What was his commission, and what remains to be laid out?

INSURANCE. The written contract or obligation which binds the parties, is called POLICY. The sum paid for insurance, is called PREMIUM.

1. What premium must be paid for the insurance of a vessel and cargo, valued at $123,425.00, at 15 pr. ct. ?

15 pr. ct.=.155, and the question is, what is .155 of 123,425. A. $19,130.875.

2. What must I pay annually for the insurance of a house worth $3,500.00, at 1 pr. ct.? A. $61.25. 3. What must be paid for the insurance of property, at 6 pr. ct., to the amount of $2,500.00? A. $150.00.

4. What insurance must be paid on $375,000.00, at 5 pr. ct.? A. $18,750.00. 5. What premium must be annually paid for the insurance of a house worth $10,650.00, at 3 pr. ct.; and a store worth $15,875.00, at 4 pr. ct.; and out houses worth $3,846.00, at 5 pr. ct.?

6. What premium must be annually paid for the insurance of a Factory worth $30,946.00, at 10 pr. ct.; and 7 dwelling houses, worth $875.00 each, at 8 pr. ct.; and 3 grist mills, worth $1,930,00 apiece, at 7 pr. ct.; and 1 storing house, worth $9,859.00, at 6 pr. ct.? Also, what is the average rate of insurance on the whole ? 7. If I pay $930.00 annually for insurance, at 5 pr. ct., what is the value of the property insured?

Here 930 is .05 of the answer; 930÷.05 $18,500 Ans. 8. If I pay $6,849.00 for insurance, at 3 pr. ct., what is the value of the property insured? A. $228,300.00.

9. If $978.00 be paid for insurance, at 2 pr. ct., what is the value of the property insured? A. $48,900.00.

10. If $765.00 be paid for insurance annually, at 5 pr. ct., what is the amount of property insured?

11. If $1,000.00 be paid, annually, for insurance on $20,000.00, what is the rate of insurance ?

A. 5 pr. ct.

12. If $288.00 be paid for the insurance of $48,000.00, what is the rate of insurance?

A. pr. ct.

13. If $975.35 be paid for insurance on $19,507.00, what is the rate of insurance ?

14. If $1,200.00 be paid for insurance on $12,000.00, what is the rate pr. ct. ?

PROFIT AND LOSS. 1. Sold a bale of goods at $735.00 by which I gain at the rate of 6 per cent. What sum do I gain?

Ans. $44.10

2. In selling 50 hhds. of Molasses at 38 dollars a hhd., I gain 10 per cent. What is my gain. Ans. $190.00

3. In selling 25 bales of cloth, each containing 27 pieces and each piece 50 yards, a merchant gained 20 per cent. on the cost, which was 10 dollars a yard. What did he gain, and what did he sell the whole for? Ans. Gain $67,500.00. Whole $405,000.00

4. A merchant gained at the rate of 15 per cent, in selling the following articles: 6 hhds. of brandy for which he paid $1.50 per gal.; 7 barrels of flour, cost 11 dollars a barrel; 2 quintals of fish, cost 4 cents a pound; 16 hhds. of molasses, cost 56 cents per gal. and 25 bls. of sugar, containing each 175 lbs., cost 9 cents per lb. What was his gain on the whole, and what did he receive in all? Ans. Gain $241.5345. Sold for $1,851.7645.

5. A merchant purchased a large amount of cotton contained in 1,899 bales, each containing 194 lbs. at 13 cts. pr. lb. ; but the price suddenly falling he was obliged to lose 8 per cent. on the cost.What did he lose, and how much did he obtain for his cotton?

6. A merchant laid in 634 pieces of broadcloth, each piece con. taining 85 yds., for which he paid 7 dollars per yd.; and 537 pieces of Russia sheeting, at $10.25 a piece; but they were so much in

jured by a fire that he was willing to lose 40 per cent on the cost. What was the value of the goods after the fire?

7. A grocer bought 7 hhds. of wine, at $154.00 a hhd. But in transportation the head of one of them was stove in, so that it was entirely lost. On this account he was willing to lose 12 per cent. on the whole. What ought he to sell the remainder at pr. gal. ? 8. A piece of cloth valued at $1,635.00, and containing 75 yds. was so much damaged by being wet, that the owner offered it at a deduction of 23 per cent. At what price pr. yd. did he offer it?

9. A merchant in selling a quantity of goods for which he paid $230.00, made a profit of 25 dollars. At what per cent did he gain? Ans. 10 pr. ct. 10. A grocer gained on 16 hhds. of molasses, each of which cost him 25 dollars, $20.00. At what rate pr. ct. did he gain ? Ans. 5 pr. ct.

11. A merchant sold 15 pieces of cloth, each containing 64 yds. at 5 dollars a yd.; also, 25 bls. of flour at 11 dollars per bl. ; also, 130 cwt. of lead, at 8 cents per lb. On the whole he gained 500 dolls. At what pr. ct. did he gain?

12. Sold 275 bales of cotton at 11.5 cts. pr. lb., each bale contain ing 362 lbs.; and 278 hhds. of brandy at $1.25 per gal.; and 15 tons of iron at 4 cts. pr. lb. On the whole there was a gain of 628 dollars. At what pr. ct. was the gain?

13. Sold merchandize which cost 1,856 dollars, at $2,784.00. At what pr. ct. was the gain?

2,784--1,856÷928 dolls., amount gained. Ans. 50 pr. ct. 14. A certain amount of merchandize which cost $2,940.00 was sold at $4,116.00. At what pr. ct. was the gain? Ans. 40 pr. ct. 15. On a quantity of flour a merchant gained 575 dollars, and his gain was at 5 pr. ct. What did the flour cost him? Ans. $11,500. 16. A man gained $846.00 on 8 pieces of cloth, each containing 282 yds., gaining at the rate of 6 pr. ct. What did the cloth cost him, and what did he sell it at pr. yd.?

Ans. Cost $6.25. Sold it at $6.625. 17. A man sold 1,722 bls. of sugar, each containing 2 cwt. 2 qrs. 13 lbs. at a profit of 15 pr. ct., and his gain amounted to $6,054.552. What cost the whole, and what did he sell it for. Also, what were the buying and selling prices pr. lb. ?

Ans. Cost $40,363.68. Sold for $46,418.232. Cost pr. lb. 8 cts. Sold pr. lb. at 9.2 cts.

18. On 9,856 bu. of wheat a man gained $2,464.00, gaining at the rate of 12 pr. ct. What was the whole cost, the cost pr. bu., the whole price of sale, and the price of sale pr. bu.?

19. A merchant sold 279 cwt. (100 lb.) of rice, at a profit of $69.75, gaining 10 pr. ct. What cost the whole, what was the cost pr. lb., what was the whole price of sale, and the price of sale pr. lb. ?

20. A grocer sold 7,862 boxes Malaga raisins at a profit of 15 pr. ct., and his whole profit was $3,420.00. What cost the whole, and what did he gain pr. lb., supposing each box to contain 56 lbs. ?

21. A merchant sold 500 yards of cloth at $3,500.00, by which he made a gain of 163 pr. ct. What did the cloth cost, and what did he gain pr. yd.? (See COMMISSION, ex. 6.)

22. A merchant sold 17 hhds. of brandy, and 25 hhds. of wine, for $4,600.00. The wine was worth pr. gal. 3 times as much as the brandy, and on the whole he gained 15 pr. ct. What were the buy. ing and selling prices of each pr. gal. ?

§ LXXVI. INTEREST. As the calculation of interest is of great importance to all classes of persons, we propose to examine it somewhat minutely.

1. If a dollar gain 6 cts. interest in a year, what will 2 dollars gain in the same time?

2. If a dollar gain 6 cts. interest in a year, what will 10 dollars gain in the same time?

3. If a dollar gain 6 cts. in 1 year, how much will it gain in 2 years? in 5 years? in 9 years? ·

4. If a dollar gain 6 cts. in 1 year, how much will it gain in 11 years? in 7 years? in 4 years? in 10 years? 5. If a dollar gain 6 cts. in a year, what will 50 cts., that is, half a dollar, gain in the same time?

6. If a dollar gain 6 cts. in 1 year, what will it gain in 6 mo., or half a year?

7. If a dollar gain 6 cts. in a year, what will 2 dollars gain in 6 months, or half a year? what will 3? 4? 7? 8?

8. If a dollar gain 6 cts. in one year, what will 2 dollars gain in 1 year and a half; that is in one year and 6 months?

9. If a dollar gain 6 cts. in a year, what will 7 dollars gain in 1 year and 6 months? what will 3? what will 4? 5? 8? 9?

10. If a dollar gain 6 cts. a year, what will it gain in 2 years and 6 months? what will 2 dollars gain in the same time?

11. What will 4 dollars gain in 4 years and 6 months, if 1 dollar gain 6 cts. a year? what will 5? 6? 7 ? 8 ? 9? 10? 11? 12?

12. If a dollar gain 5 cts. in a year, what will it gain in 2 years? what will 2 dollars gain in 2 years at that rate? what will 3?

13. If a dollar gain 7 cts. a year, what will it gain in 2 years? what will 3 dollars gain in 1 year? what will 3 dollars gain in 2 years?

14. If a dollar gain 8 cts. in one year, how much will 3 dollars gain in 5 years? 2 dollars in 3 years? 7 dollars in 2 years and 6 months?

INTEREST differs from the calculations of profit and loss, stock, and commission, in taking TIME into consideration. Thus on a note of two years' standing, twice as much interest must be paid, as upon a note of the same amount, of one years' standing. The same is true of insurance, but insurance is generally calculated for a number of even years; whereas, interest is estimated for months and days. A certain rate pr. ct. of interest is established by law, and this rate differs in different countries. This rate is allowed to be taken yearly, or, per annum, as it is expressed; which means, by the year. For parts of a year, as months and days, a proportional part of the interest per annum is allowed. The rate established by law is called LEGAL INTEREST.

In NEW ENGLAND, the legal rate is 6 pr. ct.; in NEW YORK, 7 pr. ct.; and in other states various. This treatise is equally adapted to

all.

By saying that a rate of interest is established by law, we do not mean that this rate must always be allowed, but that no greater rate shall be required. Any less rate may be taken, which the parties shall agree upon. But if a greater rate be required than the legal rate, it called USURY, and the person requiring it is subject to a penalty. When no mention is made of a particular rate, but the note or agreement says simply with interest, the legal interest is always understood, and may be collected by law.

The sum of money on which interest is calculated is called the PRINCIPAL. The sum of the principal and interest is called the AMOUNT.

YEARS. 1. What is the interest on $200,00, for one year at 6 pr. ct. pr. annum ? Ans. $12.00.

1. What is the interest on $300.00, for one year, at 4 pr. ct. pr. annum? Ans. $12.00. At 5 pr. ct. pr. an. ? Ans. $15.00. At 6? Ans. $18.00. At 7? Ans. $21.00. At 8? Ans. $24.00. At 9? Ans. $27.00.

3. What is the interest on $575.00 at 5 pr. ct. pr. an.? At 6 pr. ct.? At 7? At 8? At 9 ?

4. What is the interest on $834.65 at 2 pr. ct. pr. an. ? At 3 pr. ct.? At 4? At 5? At 6? At 7?

NOTE. The words per annum, or pr. an. are often omitted, but they must always be understood.

When the interest is required for two years, you must double the rate before multiplying by it; when for three, make the rate three times as great, &c. For the interest of $100.00 at 6 pr. ct. for 2 years, is just as much as the interest of the same sum at 12 pr. ct. for one year; it being 12 dols. in each case. Hence, to find the interest of any sum for a number of even years,

1. MULTIPLY THE GIVEN RATE IN DECIMALS, BY THE NUMBER OF YEARS, AND THE PRINCIPAL BY THAT PRODUCT. Or,

II. MULTIPLY THE PRINCIPAL BY THE RATE AND TIME SUCCESSIVELY.