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6. Mr. Lawson bought a set of tires for his runabout at 7% less than the list price, which was $60 a tire. How much did he pay?

7. What is the per cent of discount when a piano listed at $375 is sold for $75 less than the list price?

8. At a clearance sale in a clothing store the tag on a $16.50

suit reads

$11.00

The figures above the line mean the

ordinary price; the figures below, the present price. What is the per cent of reduction?

DISCOUNT SERIES

Sometimes several discounts are allowed. In such cases, after the first discount is made, the second discount is reckoned on the remainder, and so on.

1. A carriage manufacturer lists a certain style of carriage at $350 with successive discounts of 40 %, 20%, and 5%. Find the net price.

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95% of $168 = $159.60

(since 5% is deducted, 95% is paid)

2. The catalogue of an automobile manufacturer reads "Model X, 1912 style, $1800, 33% off." How much must the retailer pay if he is allowed a further discount of 5% for cash payment?

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1 Find the net amount of a bill for $480 with successive discounts of 25% and 20%.

2. A merchant buys goods whose list price is $1080. Find the net price if he is allowed discounts of 331%, 20%, and 3%.

3. A city buys 100 school desks and seats, listed at $3.60 per desk and seat. Find the net cost if discounts of 25% and 10% are allowed.

4. Find the net amount of a bill for 50 geographies @ $1.00, and 80 arithmetics @ $0.65, with discounts of 16% and 3%.

5. On Aug. 7 a merchant buys hardware to the amount of $850, with discounts of 20% and 10%, and paints to the amount of $1360, with discounts of 25% and 15%. An extra discount of 5% is to be allowed if paid within 10 days. How much will settle both accounts on Aug. 15? On Aug. 20?

6. The American Coal Mining Co. allows a discount of 16% to purchasers of 500 tons, and 16% and 10%, to purchasers of 1000 tons. Find the net price per ton in each case if the price at the mine is $3.24 per ton.

7. Two dealers in farm implements advertise plows at $32. One dealer gives discounts of 25% and 25%. Find his net price. The other gives discounts of 30% and 20%. Find his net price.

8. A manufacturer of clothing listed a certain grade of suit at $24, but told his clerk to allow discounts of 25% and 15%. The clerk called the two discounts equal to a single discount of 40%. How much did the dealer expect to receive for the goods? How much did he receive?

9. A contractor received the following bids for structural steel girders: $3750, with discounts of 15% and 5%; $3680, with discounts of 10% and 10%; $3800, with a discount of 20 %. Which bid did he accept?

10. Find the amount required to settle the bill for the following goods:

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A contract for protection against loss is insurance.

There are two kinds of insurance —personal insurance and property insurance.

Personal insurance is of various kinds, as, for instance,

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Loss by accident to one's person—accident insurance. Property insurance is, also, of various kinds, as, for instance, protection against:

Loss by fire-fire insurance.

Loss by marine disasters — marine insurance.
Loss of cattle, etc.,-live stock insurance.

Loss by burglary — burglary insurance.

The written contract given by the insurer to the insured is the policy. The policy is written for a stated period of time. The amount agreed to be paid is the face of the policy.

The parties writing the contract are the underwriters. The price paid for insurance is the premium.

The rate of insurance may be expressed as a rate per cent, or as so much per $100 or $1000 of insurance.

Thus, the rate of insurance on a piece of property is said to be 11%, $1.25 per $100, or $12.50 per $1000.

The principles of percentage apply to problems in insurance.

The face of the policy is the whole or the base.
The premium is the part or the percentage.

The rate of insurance is the value of the part or the rate per cent.

ORAL PROBLEMS

1. Find the premium for insuring a house against fire for $2000 at 11%.

2. At 1%, how much must a merchant pay for insur ing his stock of dry goods worth $4500 for of its value?

3. At %, how much must be paid to an express company to insure the safe delivery of a package of silk worth $800? If the package is lost, what amount will the express company pay to the sender?

4. Mr. Wilcox insures his house and barn for $4000 at 11%. If the property is destroyed, what is the loss to the insurance company?

5. A fire insurance company charged $20 for insuring an automobile for $1000. What was the rate of insurance?

6. At 2%, the premium for insuring a barn and its contents was $24. Find the face of the policy.

7. What is the premium per $100 at 1%? 2% ? 11%? $%? % ?

8. What is the cost per $1000 at 60 cents per $100? At 75 cents? At 87 cents? At $1.25? At $13?

9. What is the rate per cent at $1 per $100? At $2? At $11? At $q? At $2.50?

10. What is the rate per cent at $100 per $1000? At $50? At $10? At $20 ? At $25?

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