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IRATES PER CENT".

Rates of Cent. are certain allowances paid to £100, such as allowances to Factors, Brokers, Insurers, &c. Commission is the sum which a merchant charges for buying or selling goods for another. Brokerage is a smaller allowance of the same nature for negociating bills, procuring customers for goods, or goods for customers; or freight for masters of ships; or transacting other money concerns. Insurance is a contract by which one person or company on being paid a certain sum or premium by another party, engages to make good to the owner of any goods or property in case of their loss or damage, such loss or damage as they may sustain by accidents; such as fire, the dangers of the seas, or any other specified cause. f These calculations are very easily made by conceiving 100! as the first term, the sum insured the second term, and the rate the third term of an analogy, and proceed as in the Rule of Proportion; though in business this is usually done in such a way as to conceal the application of this rule. In the following examples I mean not only to illustrate the rule in full, but also to show the most useful contractions employed by merchants and accountants.

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* Here I employ the contracted mode of dividing by 100, as taught in Coupound o ision,

2. What is the brokerage on 750l 13s 4d. at 3s.6d. per ct?

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Any sum of money, in denominations of £ s. d. may be divided by. 40, thus, cut off from the pounds the units figure, and the other figures divide by 4, the remainder, if o with the figure cut off annexed thereto are sixpences, the half of which are the shillings of the quotient, and the given shillings and pence, if the digit cut off be even, or if odd with 20 i. s added thereto, being multiplied by 3 and divided by 10, will give #. pence and farthings.

ExAMPLE.-Let £475.12s. 6d...be divided by 40, or which is the same thing, let the commission on this sum be found at 23 per cent. 2

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. What is my commission on 435l 17s 6d at 24 per ct? . What will be the insurance on 325l. at 32s 6d per ct? . What is the commission on 300l 12s 6d at 3% per ct? . Required the brokerage on 4261 10s 0d at . # per ct? . Required the commission on 1740l 12s 6d at 3% per ct 2 . Required the commission on 4291 13s 4d at 24 per ct? 10. What is the brokerage on 1250l 0s 0d at 1 per ct? 11. What is the brokerage on 1145l 0s 0d at 5s per ct 2 12. What is the brokerage on 42451 12s 6d at + per ct? 13. What is the commission on 1741. 15s 0d at per ct 3 14, What is the brokerage on 70ll 13s 4d at 1% per ct: 15. What is the insurance on 864l 7s 6d at 24 per ct? 16. What is the insurance on 1371. 12s 0d at 4gs. per ct? 17. What is the insurance on 656l 10s 0d at 3 gs, per ct? 18. What is insurance on farming stock val. 1541 at 2s 6d oct?

19. What is the insurance on a house and furniture valued at 750l at 3s.6d. per cent 2

20. Shipped goods at a port in Ireland which stand me in 1125l; this I order my correspondent in England to insure at 13 guineas British per cent, what sum British currency will he charge me with ?

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21. At 2 guineas Irish currency per cent, how much must be paid for insuring goods worth 750l 12s. 6d. 2'

22. At 2 guineas British currency what sum must I remit to insure goods with 2133l P 23. How much must be insured at 74 per cent on property worth 950l so that the owner in case of loss may be repaid, not only the value of the goods but also the premium of insurance 2

Here 100–7+ = 92%
£924: 950 ::100

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24. What must be the sum insured at 64 per cent, on goods worth 1389l 12s. 6d. that in case of loss the owner may be repaid both the value of the goods and the premium of insurance?

25. Suppose I want to insure goods worth 400l at a premium of 8 per cent, and that the stamp for the policy costs 7s.6d. per cent, brokerage # per cent and other incidental charges ll per cent; what sum ought I to insure to recover the value of my property and the expenses of insurance?

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26. At 3 guineas per cent, what will be the premium of insuring property worth 1350l., so that in case of loss the owner may be entitled to the value of the goods and the premium ?

27. Suppose I am remitted 545l Irish currency with orders to purchase goods on which I am to be allowed 4 per cent commission, what sum must I lay out, and after paying myself exactly make up the sum remitted P

28. Suppose I am remitted 1200I, to purchase merchandize for which I am allowed a commission of 5 per cent, this I am also ordered to insure, which I find will cost me 2 per cent; what sum must I lay out, that with my commission, and the insurance I may exactly make up the sum remitted 2

29. Suppose I have been remitted 1650l to purchase corn, on which I am to be allowed 4 per cent commission, and am ordered to insure so as my correspondent may sustain no loss, and the insurance costs me 1+ per cent ; what sum must I lay out, and pay myself commission and insurance, and exactly make up the sum remitted ?

30. Suppose my factor charges me with 7l 12s. 6d. being his commission at 2% per cent on goods purchased for my account; what was their value *

31. *What premium must be paid for insuring goods to the value of 550l at 3% per cent so that in case of loss the party insured shall be entitled not only to the value of the goods but also to the premium of insurance P 32. What sum must I insure to recover the amount of goods value 584l, together with premium of insurance and all charges being 43 per cent? 33. If my expenses be 71 10s premium, policy 5s. 0d. brokerage 25s. 0d. and other charges 25s. what sum ought I to insure to recover all the expenses and the value of the property supposing it to be worth 2500l? Questions relating to the purchase of stock;t may be included in this rule. - - Where the hundreds are even which is most generally the case, multiply the price by the number of hundreds.

examples. What must be given for 700l new 4 per cent debentures, at 101.41 per cent? : £101 10 7

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If the current price of stock to be transferred is less than 400l, multiply the stock by the rate per cent, and the product divided by 100 will give the purchase. If the price of stock be more than 100l, multiply the quantity to be transferred by such part of the rate per cent as exceeds 100; divide this product by 100 as before to which add the given stock for the total purchase. Or, as 100 : the stock to be transferred, so is the rate per cent or current price, to its current value. The same may be effected by aliquot parts, as was explained in the first examples under the present head.

* Note.--Inbusiness it is usual to charge Insurance for even money, so that such examples though they may be useful exercises, are for the most part useless in real insurance transactions, as the premium is at once found by multiplying the number of hundreds by the rate per cent. In such cases as above described, merchants calculate the nearest even sum to cover their risk, and are not in general, particular as to the exact amount 201 or 30l mot making much difference. * + Stock is a general name for the money borrowed by government and the capitals of trading companies. f There is generally some small additional expense morethan the rate or selling price, which is usually 2s. 6d. or § per cent.

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