15. R gave 189 yards of linen, at 6s. 8d. per yard, to C for 42 yards of cloth; what was the cloth per yard? Ans. 30s.

16. A has 608 yards of cloth at 14s. per yard, for which B is to give him 125L. 12s. in money, and 85 cwt. 2qrs. 24lb. of bees wax. At how much is the bees wax valued per cwt.? Ans. 3L. 10s.

17. C has wheat at $1.25 cents per bushel, ready money; but in barter he will have $1.50 per bushel; D has cotton at 20 cents per lb. ready money: what price must the cotton be in barter, and how much cotton must be given for 100 bushels of wheat?

Ans.

cotton 24cts, and 625lb.

must be given for 100 bushels of wheat.

LOSS AND GAIN.

Loss and Gain instructs merchants and traders, so to estimate their goods in buying and selling, as to know what they gain or lose in dealing.

Questions in Loss and Gain are solved by the Rule of Three, or by Practice.

EXAMPLES.

1. A storekeeper sold 100 yards of silk, at $1.50 per yard, which cost him $1.25 per yard; how much did he gain by the sale?

$1.50
$1.25

25 gain per yard.

2. If a grocer buy 265lb. of afterwards sell the whole at 7s. he gain by the transaction?

265
7

2/0)185/5

92L. 15s.

yd. yds. cts.

1 : 100 :: 25

3. A shopkeeper bought 53 yards of silk, at 12s. per yard, and afterwards sold it at 14s. per yard; how much did he gain by the sale?

Ans. 5L. 6s.

4. G bought 650lb. of sugar, át 10 cents per lb. and sold it at 12 cents per lb.; how much did he gain? Ans. $13.00. 5. If I buy 765 yards of baize, at 3s. 44d. per yard, and sell it at 3s. 9d. per yard, how much do I gain? Ans. 14L. 6s. 10 d. 6. Bought 2016lb. of rice at 3d. per lb. and sold it at 31d. per lb.; how much was gained by the transaction?

Ans. 4L. 4s.

7. If I lay out 1000 dollars in hats, at 4 dollars each, and sell them afterwards at 4dols. 50cts. each, how much will I gain? Ans. 125dols. 8. A merchant bought 1300lb. of coffee, at 22cts. per lb. and was afterwards obliged to sell it at 20cts. lb.; how much did he lose? Ans. $26.00. 9. B laid out 250L. in cloth, at 30s. per yard, and, afterwards, finding it was damaged, sold it at 26s. 3d. per yard; how much did he lose? Ans. 31L. 5s.

per

10. A shopkeeper bought 42 yards of muslin for 4L. 14s. 8d. and sold it at 2s. 6d. per yard; whether did he gain or lose, and how much? Ans. He gained 10s. 4d.

11. A draper bought 100 yards of cloth for 56 dollars, how must he sell it per yard, to gain 19 dollars in the whole? Ans. 75 cents.

12. If a grocer buy a quantity of tea for 125L and sell it again for 150L. how much will he gain per cent.? Ans. 20 per cent. 13. If a yard of mantua be purchased for $1.20, and sold again for $1.50, what is the gain per cent.? Ans. 25 per cent. 14. If a yard of velvet be bought for 16s. and sold again for 12s. what is the loss per cent.?

Ans. 25 per cent. 15. Bought a chest of tea, weighing 490lb. for 326 dollars, and sold it for $370.10, what was the profit on each lb.? Ans. 9 cents.

16. If I buy 100 yards of cambric for 56L. at how much must I sell it per yard, to gain 15 per cent.? Ans. 12s. 10 d.

17. Bought 12 pieces of white cloth, for 6L. 10s. per piece, and paid 20s. 10d. per piece for dying it; how much must each piece be sold for, to gain 20 per cent.? Ans. 9L. 1s.

18. If a trader gain 14d. per shilling on his goods, how much does he gain per cent.? Ans. 12 per ct.

19. If I buy 28 pieces of stuffs at 4L. per piece, and sell 10 of the pieces at 6L. per piece, and 8 at 5L. per piece; at what rate per piece must I sell the rest, to gain 20 per cent. by the whole? Ans. 3L. 8s. 94d. 20. Having bought a parcel of goods for 18L. and sold the same immediately for 25L. with 4 months credit, what is gained per cent. per annum?

Ans. 116L. 13s. 3 d.

FELLOWSHIP.

Fellowship is a rule, by which merchants, &c. trading in company with a joint stock, are enabled to ascertain each person's particular share of the gain or loss, in proportion to his share in the joint stock.

By this rule also legacies are adjusted, and the effects of bankrupts divided, &c.

CASE 1

When the several stocks in company are considered, without regard to time.

RULE.

As the whole sum, or stock,

Is to either person's share in stock, &c.

So is the whole gain or loss,

To that person's share of the gain or loss.

PROOF.

The sum of the several shares must equal the whole gain or loss.

EXAMPLES.

1. Three merchants trading together, gained 800 dollars; A's stock was 1200dols. B's 4800 dols. and C's 2000dols.: what was each man's share of the gain? A's stock 1200dols.

B's stock 4800dols.

C's stock 2000dols.

Whole stock 8000 dollars.

As 8000 1200 :: 800: 120 A's share of gain. As 8000 4800 :: 800 480 B's share of gain. As 8000: 2000 :: 800: 200 C's share of gain. 2. D, E, and F, trading together, gained 120L. D's stock was 140L. E's was 300L. and F's was 160L.; what was each man's share of the gain?

Ans. D's share was 28L. E's 60L. F's 32L. 3. Three merchants trading together, lost goods to the value of 1920dols.; now suppose A's stock was 2880dols. B's 11520dols. and C's 4800dols.; what share of the loss must each man sustain?

4. A, B, and C, freighted a ship with 108 uns of wine, of which A had 48 tuns, B 36, and C 24, but by reason of stormy weather were obliged to cast 45 tuns overboard; how much must each man sustain of the loss? Ans. A 20 tuns, B 15, and C 10.

5. If the money and effects of a bankrupt amount to 1400L. 14s. 6d. and he is indebted to M 742L. 12s. to B 641L. 19s. 8d. and to C 987L. 19s. 9d.; how must the property be divided among them?

Ane M must have 438L. Ss. 44d.

B

C

379L. Os. 3 d. 583L. 5s. 9ąd.

6. Suppose a person is indebted to S 70L, to T 400L. and to V 140L. 12s. 6d. but upon his decease his property is found to be worth only 409L. 14s.; how must it be divided among his creditors?

Ans.

{

S must have 46L. 19s. 3 d.

T

V

94L. 7s. Old..

7. Three graziers pay among them 120dols. for a grass enclosure, into which they put 300 oxen, whereof L had 80, N 100, and C 120; how much should each person pay? Ans. L 32dols. N 40dols. and C 48dols.

CASE 2.

When the respective stocks in company are considered with time.

RULE.

Multiply each man's stock by its time; then,

As the sum of the products,
Is to either particular product;
So is the whole gain or loss,

To the gain or loss of the stock from which that product is obtained.

EXAMPLES.

1. Three merchants traded together; A put in 120L. for 9 months, B 100L. for 16 months, and C 100L. for 14 months, and they gained 100L.; what is each man's share?

As 4080

As 4080
As 4080

1080 :: 100: 26 9 43+ A's share.
1600 :: 100: 39 4 34+ B's share.

1400 :: 100: 34 6 34+ C's share.

2. B, C, and D, traded together; B put in 50 dollars for 4 months, C 100 dollars for 6 months, and D 150 dollars for 8 months; they gained $126.80: what is each man's share of the gain?

Ans. B's share is $12.68, C's $38.4, D's $76.8. 3. B and C trade in company; B put in 950L. for 5 months, and C 785L. for 6 months, and by trading they gain 275L. 18s. 4d.; what is each man's share of the gain? Ans. B's 138L. 10s. 10d. C's 1371. 7s. 6d. 4. Three merchants trade in company; A put in 400L. for 9 months, B 680L. for 5 months, and C 120L. for 12 months; but by misfortunes lost goods to the value of 500L: what must each man sustain of the loss?

5. A, B, and C, made a stock for 12 months; A put in at first $873.60, and 4 months after he put in $96.00 more; B put in at first $979.20, and at the end of 7 months he took out $206.40; C put in at first $355.20, and 3 months after he put in $206.40, and 5 months after that he put in $240.00 more. At the end of 12