7. Bought bonds at 60%, sold them at 80%; brokerage in the purchase and sale 11%; the gain was $179. What was the face of the bonds? 11% of 60% = 3 = 18%. 21% is paid for brokerage, the gain is 20% 26% = 171% 179 1000 = $179. 1888 = 1 = 179 × 1000 = $1000, Ans. = = 8. What is the face of a draft costing $3193.19, bought at a premium of 14%? $3193.19 × 8 = $3146. 21% = 21%. 9. Bought a draft on New Orleans at 1 per cent discount for $990; what was the face of the draft? Ans. $1000. 50 10. Invested $6750 in stocks at 25% discount. What was the par value of the stocks? Ans. $9000. 11. Invested $6250 in stocks at 60%, and brokerage 21% What is the par value of the stocks? Ans, $10000. 12. How much gold at 51% premium, can be bought for $2268.25 ? Ans. $2150. 170%. 13. Bought goods at 80 cts. per yard, and sold at 90 cts. per yard. What per cent did I gain? 14. Bought goods at 80 cts., and sold at 70. What per cent did I lose ? 10 = 121%. 15. Bought goods for $1 and sold for $4. What per cent did I gain? 121 100 300%. 16. Bought goods for $4 and sold for $3. What per cent did I lose? 300 i 100 = = 25 17. Bought goods for $5 and sold for $2. What per cent did I lose? 60 18. Bought for $1 and sold for 75 cts. Icent did I lose? = FRUKO 19. Bought goods for $160 and sold for $180. What per cent did I gain? What per INSURANCE. Insurance of property is a guarantee of a certain sum of money in case the property is lost by fire or any casualty. The contract for insurance is termed a Policy, and the sum paid annually is the Premium. The Premium is a certain percentage on the amount of risk. There are different modes of insurance, but all are dependent on the principle of percentage. $6000 × EXAMPLES. 1. What is the premium on property on which a risk of $6000 is taken, at 1% for one year? = 20 = $30.00. 2. What is the premium on a risk of $5000, on which a premium note is given for 5% of the risk, and the interest on the note is 4% ? Note 5000 × 150 = $250. Interest on note = 250 × 100 $10 Premium. If the policy cost $1.00, the expense for the first year is $11.00. 글 100 REM.-Sometimes the premium is made to cover both property and premium, in which case the risk is equal to the sum of the value on property and the premium. = 3. What amount must I have insured at 1% premium, when the risk on the property is $9950 ? INTEREST. Interest is an allowance for the use of money. It is reckoned by percentage; thus, 5%, 6%, etc., meaning for a year, when not otherwise expressed; for any other time it is as the ratio of the time; thus, the interest of $100 at 6% is $6 for a year, for two years $12, and for six months $3. PROBLEMS. 1. Find the interest of $150, at 6%, for 1 year. $150 X TO = $9. For 8 months. $1.50 × × = 1.50 × x 1 For 6 months. $1.50 × × = $4.50. 1 = $6.00. For 14 months. $1.50 × × = 1.50 x = $10.50. 7 2 COR.-At 6%, the rate per cent. for any number of months is the number of months; thus, for 8 months it is 4%, for 6 months it is 3%, and for 14 months 7%. 2. Find the interest of $150, at 6%, for 129 days? 6000 60 = COR.-The interest of a sum of money for any number of days is equal to the product of the sum of money and the number of days divided by 6000; or, if the number of dollars be multiplied by the number of days and this product divided by 6, the quotient is the interest in mills; point off three decimals and it is reduced to dollars, cents, and mills. If the rate of interest is 7%, add ; if 8%, add ; if 9%, add ; if 5%, deduct ; if 4%, deduct; if 3%, take The rate for 200 months is 100%; that is, the interest is equal to the principal. EXAMPLES. 1. Find the interest of $625, at 6%, for 8 months. Rate for 8 mo. is $6.25 × = $25.00. For 8 mo. and 20 days, 8 mo., rate 41%. 41 $6.25 $625 × = $625 × 1030 = 100 3 $27.08. If months and days are computed separately. $625 × 1 = $25.00 $625 × 300 = 2.081 $27.081 |