19. A. and B. traded in company. A. put in $1200; B. advanced his share 3 months after. What sum was it necessary for him to advance so as to be entitled to one half of the profit at the expiration of one year? Ans. $1600. 20. L., M., and N., entered into partnership; L. advanced $300 for 3 years; 6 months after, M. put in $450; and 6 months after M. put in his share, N. put in $520. At the expiration of 3 years, they found they had cleared $900. What was each man's share? Ans. L's, $264.274; M's share, $330.342; and N's, $305.383. QUESTIONS.-What is Partnership? What are the individuals trading in company called? What does the money advanced by the company form? What is the money they receive on their several shares called? What is the rule for operating when each man's stock is employed for the same period of time? What is the rule for canceling? When all the shares are not continued for the same period of time, on what will each man's share of the profit and loss "depend? What is the rule? COMMERCIAL EXCHANGE. Under this rule are included the operations of purchasing goods in one country, in the currency of that country, and selling them at wholesale or retail in the currency of another country, so as to give or lose some required per cent. To reduce a foreign currency to federal money, multiply the given money of that currency by the value of its unit in federal money, as given in the preceding tables. If, however, it be required to find how goods, the value of which is given in a foreign currency, must be sold in federal money, to gain or lose a given per cent., first change the foreign currency to federal money, and calculate the gain or loss on this by the rules already given. The retail price of any denomination, as cwt., lb., yd., gal., &c., may then be found by division. Ex. 1. Purchased in London 360 yards of broadcloth, which cost me, including transportation, 300 £. sterling; how must I sell the same per yard, in federal money, to make a profit of 20 per cent.? Solution 300 £. x 40=12000; and 12000÷9-$13331, the value of 300 £. in federal money. Then, $1333×1.20 $1600, the value in federal money increased by the gain per cent.; therefore, $1600÷360= $4.444, the required price of one yard. If the wholesale price only be required, it is only necessary to omit the last step. Thus the $1600 is the wholesale price of the cloth given in the preceding sum. To solve sums like the preceding by canceling: RULE.-Place the whole cost in the given currency first above, and (if the retail price be required) the number expressing the quantity procured for that price, first below, a horizontal line. Write next above the line the value of a unit of the given currency, in federal money. And, lastly, to increase or diminish the price by the required per cent., place 100 below the line, and 100 increased by the per cent. to be gained, or diminished by the per cent. to be lost, above the same. Note 1st.-If the wholesale price be required, the number expressing the whole quantity (by the preceding rule, placed below the line) must be rejected. Note 2d.-Whenever in the preceding tables the value of a number of units of foreign currency is given in federal money, place that number below the line, and its federal value above the (See £'s sterling.) sum. The preceding sum stated for canceling : 300. 40. 120 360. 9. 100* To understand the reason of the middle terms, see Note 2d, and £'s sterling in the preceding tables. 40 300. 40. 120 360. 9. 100' And 40+9=$4.444,+ the answer, the same as before. 2. Purchased in London 350 yards of sheeting for 75 £., and paid 12 £. for its transportion to New York city; how must I retail the same in federal money, to gain 15 per cent. on the first cost? Ans. $1.27.+ |