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28. The net profits of a store in two years were $3483. The profits the second year were 15% more than the first year. How much were the profits the first year?

29. An executor in settling an estate found 7% uncollectable, 12% invested in city lots, 40% in cash, 15% loaned, and the remainder, $10,000, invested in the home. The estate was equally divided among four sons. How much did each receive?

30. A merchant increased his capital the first year 331%, and the second year 25% of the capital at the end of the first year. He lost 36% of his original capital the third year, and had $11760 left. Was his original capital increased or decreased, and how much?

31. An estate was worth $8400. Had it been sold for that amount, the creditors would have received 871 % of their claims, but of the estate was sold at 181% 18 and the remainder at 121% below its value. of the debts did the estate pay?

GAIN AND LOSS

below its value, What per cent

1. A dealer bought goods for $1000, and sold them at a gain of 10%. What was the selling price? What was the gain?

2. Sugar that cost 5¢ per pound was sold at a gain of 20%. What was the gain per pound?

3. A huckster bought fruit for $20, but found he had to sell it at a loss of 20%. How much did he lose?

4. A grocer sold butter that cost 20 per pound, for 25. What part of the cost did he gain?

5. Books that cost $1.50 wholesale were sold at a gain of 10%. Find the selling price.

Gain and loss are terms used to designate the profits or the losses in business transactions.

The cost is the amount paid for an article; the selling price is the amount received for it.

The gross cost of goods is the original cost increased by what is paid for freight, storage, etc.

The net proceeds is the amount received for goods after all charges incident to the sale have been deducted.

The per cent of gain or loss is always reckoned on the cost, or on the sum invested.

Written Work

1. A merchant bought goods for $4500 and sold them at a gain of 12%. How much did he gain?

$4500, cost

.12, rate $540.00, gain

Comparative Study

The amount bought or sold corresponds to what term in Percentage?

The gain or loss corresponds to what term in Percentage?

Find the gain or loss:

2. $75, gain 20 %.

3. $96, gain 331%.

4. $115, loss 15%.

5. $227, loss 19%.

6. $356, gain 21%.
7. $132.50, gain 28%.

8. $485.60, loss 5%.
9. $880.80, gain 12%.

10. How much is gained by selling a property that cost $3250 at a profit of 8% ?

11. A grocer bought 120 dozen eggs at 18 cents a dozen, and sold them at a profit of 111%. What was his gain?

12. A real estate dealer bought three lots for $1500, $1800, and $2000 respectively. He sold the first at an advance of 8%, the second at an advance of 10%, and the third at an advance of 12%. What was his gain?

Finding the gain or loss per cent.

Written Work

1. I bought a piece of property for $2500 and sold it for $2750. Find the gain or loss.

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Find the gain or loss per cent when the:
2. Cost is $100 and the selling price $105.
3. Cost is $175 and the selling price $210.
4. Cost is $240 and the selling price $230.40.
5. Cost is $476.80 and the selling price $309.92.

6. Cost is $775.50 and the selling price $1008.15.

7. If flour is bought for $4.50 a barrel and sold for $6 a barrel, what per cent is gained?

8. A farm was bought for $3500 and sold for $4200. What was the gain per cent?

9. If hats are bought for $27 a dozen and retailed at $2.75 each, what per cent gain is realized?

10. A grain dealer bought 500 bushels of wheat at 84 cents a bushel, 600 bushels at 80 cents a bushel, and sold it all at 82 cents a bushel. What per cent did he gain or lose?

Finding the cost.

Written Work

1. What was the cost of a house if the owner, by selling it at an advance of 25 %, gained $900?

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Find the cost when:

2. 5% loss is $25.

3. 121% gain is $371. 4. 150% gain is $750. 5.1% loss is $121.

6.

% gain is $16.80.

7. 44% loss is $1100. 8. 35% gain is $12.25.

9. 16% loss is $37.50

10. A dealer sold a buggy at 25% gain, and received $90 for it. How much did the buggy cost?

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17. A merchant, after losing 25% of his goods by fire, had $8700 remaining. What was the value of his goods at first?

18. An attorney turned over to his client $1125 after retaining 10% for his services. What amount of money did the attorney collect?

19. If 8% is lost by selling an article for $1.15, how much did it cost?

20. If dress goods sold at $1.50 a yard yielded a profit of 20%, how much did the goods cost per yard?

21. Mr. Rice sold his farm at a gain of 5% and received $4200 for it. What would the gain per cent have been had

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22. I sold a horse for $240 and thereby lost 20%. What selling price would have given me a gain of 20%?

23. If a merchant loses 10% by selling goods at 45 cents a yard, for what should they have been sold to gain 20 %?

24. A piece of cloth was sold for $32, which was at a loss of 20%. What would have been the loss per cent had it been sold for $39?

REVIEW PROBLEMS

1. Find the selling price of goods on which there is a loss of 21% which amounts to $106.25.

2. How many per cent above cost must an article be marked in order to make 25% after a discount of 20% has been given?

3. I sold of an acre of land for what of it cost. What per cent did I gain or lose?

4. At what price must an article that cost $60 be marked, so that after deducting 25% from the marked price, a profit of 10% may be realized?

5. A sold a property to B and gained 20%; B sold it to C and lost 16%; C sold it to D for $2800 and gained 12%. How much did A receive for the property?

6. Find the value of a property that increased annually 4% on the previous year's value and after three increases was worth $11,248.64.

7. A note was bought for 5% less than its face and sold. for 2% more than its face. If $40.25 was gained, what was the value of the note?

8. I bought a lot for $1600, which was 20% less than its real value, and sold it for 20% more than its real value. How much did I gain?

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