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11. A man purchased of a broker 1000 dollars in gold, on which he pays a premium of 15%. How much currency does he invest?

$1000 × 118 = $1150 in currency.

12. A merchant sells to a broker $3275 uncurrent funds at 5% discount. What does he realize?

= $3136.25.

655

19

$3275 × Fa

95

20

4

116.40 x

13. My agent made a compromise with a debtor owing $3264, at 60%, and his fee was 5%. What did I receive?

5% on 60 = 3%;

3264 ×

14. Paid $116.40 commission on the sales of goods, at 11%. What was the amount of sales? and also the net proceeds?

100

11

$2430 ×

$655×19 =

4

100

21

57

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15. A tax collector receives $2430 for his collections, at 21%. What is the amount of taxes collected?

= 116.40 × 200 = 38.80 × 200.

= 400 × 2430 = 270 × 400.

16. I sent my broker $5000 to purchase goods, his charge was 2% on the amount of goods. did he buy?

What amount

For $102 he bought $100 goods; ..

5000 × 18%

17. Goods sold on commission at 21%, the consignee received $3755.40. What was the amount of sales?

=

[blocks in formation]

48

3755.40 X

= 28 = 3755.40.

10

= 3755.40.

39

= 1 =

3755.40 × 8.

100

971

The ratio is

Cancel and compute.

18. A broker sells 50 tons of hay, proceeds $862.944, brokerage 11%; how much per ton did the owner realize? Ans. $17.

96 104

=

19. Sold flour at 21% commission, invested of the amount of sales in sugar at 14% commission; the balance, after deducting commissions, was $430. What was the flour sold for, and how much was invested in sugar? 1%.

The commission on sugar = 1 × 1
The whole commission on sugar and flour = 31%.

£88 = 18.

200
195

96

10 × 101 = invested;

86 100

=

100 =

= 1 = 430 × 100

430.

430.

=

1880

= 500.

31% on the whole is 14% on 1; the balance is $500, which is the sales of flour; therefore, flour sold for $2000 and $1500 invested in sugar.

20. Sold goods at 4% commission, and invested the proceeds, except my commissions, in other goods at 4% commission. My commissions were $200; what was the amount of sales and also of the investment?

784

= commission.

18=1200.

132600, amount of sales.

21. Sold goods and invested the proceeds, retaining the commissions, which were 4% on the sales and 2% on the investment. The amount invested was $8000; what was the amount of sales and of the commissions?

#9 14, investment.

Or,

96 100

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188

=

96 102

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500

8000 × 1 = 8500, sales.

500, commissions.

8000 × 1 × 1 = 8000 × 17 = 8500.

STOCKS, BONDS, ETC.

EXAMPLES.

1. What is the cost of 8 shares stock, $100 per share, at 5 per cent premium?

$800 × 185 = $840.

3. Bought $200 gold cost and premium?

2. What will 12 shares stock ($50) cost, at 15% discount? and what is the discount?

Ans. $510 cost, $90 discount.
at 1% premium. What is the
Ans. $201 cost, $1 premium.

4. Bought a draft on New York for $500, premium 1%. What is the cost and premium?

Ans. $1 premium, $501 cost. 5. Sold $750 uncurrent funds, at 5% discount. What was the amount of sale, and the discount?

Ans. $712 sale, 37 discount. 6. Bought 50 shares R R. stock ($50) at 64%, and sold them at 69%. What did I gain?

$50 x 50 = $2500 X rửa

=

$125 gain.

7. Bought stock at 105%, and sold it at 96%. What was lost on 60 shares ($50) ? Ans. $270.

8. What is the difference in the cost of a draft on New York for $5000 at 1% premium, and one on New Orleans for the same sum at % discount? Ans. 371.

9. Purchased per broker, 20 shares stock ($50) at 15% discount, brokerage %. What was the cost?

སྙ

17

$1000 × 85 × = 3417 = $8541.

20
4

10. Bought 15 bonds (face $250) at 15% discount, brokerage %; sold them at 10% premium, brokerage %. What was the gain?

85
100

Bought 15 x 250 × 5 × 81.
Sold 15 x 250 x 118 × 188.

;

REM.-Brokerage has to be paid both on the purchase and sale it will increase the cost, but diminish the sales.

PROBLEMS.

To find the rate per cent of gain or loss.

The ratio of the gain or loss reduced to hundredths, either as a common fraction or a decimal fraction, the number of hundredths will be the rate per cent.

2525

2500

EXAMPLES.

1. Paid $2525 for a draft on New York for $2500. What percentage was the premium ?

25

=rate of premium, or 1%.

2. Bonds (face $2500) cost $2550, brokerage $371 What was the percentage of premium ?

2550

371

25125

2500

121 2500'

4275

25

4250

t

rate of premium = or 1%, Ans.

100'

3. Bonds (face $5000) cost $4275, brokerage $25. What per cent was the discount?

5000

4250

750

5000'

6.00

5.40

rate of discount =

4. Received $5.40 for a note of $6; what per cent was the discount?

.60

6.00

1, or 15%, Ans.

15

1009

= 10% = 10%.

5. Bought gold at 5% premium, the premium alone

was $15; how much gold was bought?

100

= 15,

100 = 3,

188 = $300.

6. Sold bonds at 15% discount, and received $210 less than the face? What was the face value?

10 = 210;
15

1880 = 210 × 100

= $1400.

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