§ 62.-1. What would be the cost of 36 bushels of wheat, at 50 cents a bushel?

Note.-Had the price been $1 a bushel, the cost would evidently have been as many dollars as there were bushels; but as the cost is only 50 cents, ($1,) the cost will evidently be only one half of 36. If, therefore, we divide 36 by 2, the denominator of 1⁄2, we shall have the true result. This is equivalent to multiplying 36 by

SOLUTION.-50 cents $1. If 1 bushel cost $1, 36 bushels would cost 36 times $3 $3,6 $18. Therefore, 30 bushels of wheat, at 50 cents a bushel, would cost $18.

2. A laborer agreed to work for 8 cents an hour; how many dollars would he earn in 6 days of 12 hours each?

3. At 75 cents a yard, what would be the cost of 24 yards of linen?

4. A lady paid 33 cents a yard for 9 yards of cloth; what did it come to?

5. What would be the expense of building one mile of fence at 50 cents a rod?

6. What would 48 dozen eggs cost, at 12 cents a dozen ?

7. What would be the difference in the cost of 28 pounds of tea, at 2 shillings a pound, if it be reckoned first in New York, and afterwards in New England currency

?

8. How many shillings of New York currency are equal to 8 shillings New England currency?

9. A man bought 12 pails at 663 cents each; how much did they cost?

Note.-663 cents —

10. A man bought 144 pounds of coffee, at 12 cents a pound; what did it amount to?

11. At 33 cents a cwt., what will 1 ton of hay cost?

12. What will be the cost of 12 pounds of butter, at 163 cents a pound? 163 cents

$1.

13. What will 11 bushels of wheat cost at 75 cents a bushel? at 50 cents?

14. At 20 cents each, how many back combs can be bought for 6 N. E. shillings?

15. A farmer sold 150 bushels of potatoes, at 25 cents a bushel; what did they come to?

§ 63.-1. What is a simple number? 2. A compound number? 3. What is Federal money? 4. Recite the table. 5. Of how many kinds are the coins of the United States? 6. Name the gold coins and tell their values. 7. The silver. 8. Copper. 9. When was Federal money established? 10. What is Sterling money? 11. Repeat the table. 12. By what is the Pound Sterling represented? 13. Repeat the table of Troy weight, and tell for what it is used. 14. Avoirdupois. 15. Explain the difference between gross and net weight. 16. What is the table of Linear measure? 17. How long is the school-room? 18. How wide? 19. For what is Square measure used? 20. Repeat the table. 21. Repeat the table of Cubic measure. 22. For what is it used? 23. Repeat the table of Cloth measure. 24. State the difference between Linear, Square, and Cubic measure. 25. Repeat the table of Wine measure. Dry measure. 27. Time. 28. How is time divided? 29. Name the months of the year and state their origin. 30. Name the days of the week and tell their origin. 31. Name the aliquot parts of $1. 32. What are the aliquot parts of a pound Sterling?

26.

Note. The teacher may continue this review to any desirable extent.

CHAPTER X.

§ 65. PER CENT. and PER CENTAGE are terms used to denote a certain allowance on a hundred; that is, a part of a hundred. For example, the phrase 6 per cent. denotes 6, 7 per cent., 13, &c., of the sum of money, or number under consideration.

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Note.-1 per cent. is written thus, .01; 2 per cent. thus, .02; 3 per cent. thus, .03; 4 per cent. thus, .04; 5 per cent. .05; 6 per cent. .06; 7 per cent. .07, &c.

Obs.—PER CENTAGE is applied to a large number of calculations in business life; as Commission, Interest, Insurance, &c. It is, therefore, of great importance that its principles should be fully understood by every student.

INTEREST.

§ 66.-INTEREST is the sum paid by the borrower to the lender for the use of money. It is reckoned at a certain rate per cent., per annum; that is, a certain number of dollars on a $100, a certain number of pounds on a £100, &c.

Note.-The terms per cent. and per centage, are from the Latin words per and centum, signifying by the hundred. The term per annum, signifies by the year or for a year.

§ 67.-The money on which interest is reckoned, is called the principal. The per cent. paid for the use of money is denominated the rate. The principal and

That is,

interest added together is called the amount. if I borrow $500 for one year, and agree to pay 10 per cent. for it, I must pay the lender, at the end of the year, $500, the sum borrowed, and $50, the interest, making the amount $550.

LEGAL INTEREST.

is

§ 68.-The rate per cent. to be paid on money usually established by law; though it varies in different countries, and also in the different States of the American Union. In contracts, if no rate is mentioned, the lawful rate of the country where the contract is consummated, is understood.

USURIOUS INTEREST.

§ 69.-USURY is any rate of interest higher than that established by law, and penalties of different kinds are attached to the laws, to which the person violating or exacting usury is liable.

§ 70.--The following table exhibits the legal rates of interest in the different States, and the penalties attached for usury.

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