Ex. 3. A gentleman's bill amounts to 184 francs 75 cents. How much British money, will be required to settle it, at 25 francs 12 cents per £1?

Ex. 4. Reduce 14640 florins 40 kreuzers (Austrian) to British money, exchange at 10 florins 40 kreuzers per £1.

Here we have: 10 florins 40 kreuzers=£1,

.. 14640 florins 40 kreuzers

11s. 3d.

=

14640 fl. 40 kr. × £1

= £1372.

10 fl. 40 kr.

Ex. 5. Reduce £364. 18s. 9d. sterling to Austrian money, exchange at 10 florins 25 kreuzers per £1.

£1 is worth 10 florins 25 kreuzers,

=

..£364. 18s. 9d. are worth £364. 18s. 9d. x 10 fl. 25 kr. = 3801 florins 25.9 kreuzers.

Ex. 6. If a quantity of port wine be bought for 3245 milrees 435 rees, what is the cost, in British money, at 61d. per milree, per cent. being paid for insurance?

6

. 1 milree=61d.,

..3245 milrees 435 rees=3245.435 × 61d.=197971.535d.

.. whole cost 197971.535d. +11878.292d.=209849.827d., or £874. 7s. 5.827d.

Ex. 7. A merchant at Amsterdam is possessed of 5179 florins 16 stivers currency, which he wishes to turn into British money; exchange at 36s. Ild. (Flemish) per £1 sterling, and agio at 4 per cent.

By the question, 104 currency=100 banco, 100 × 5179 fl. 16 stiv.

..5179 fl. 16 stiv.

=

1044

4974.59784 fl., or 198983.9136 grotes.

Also, 36s. 11d., or 443 grotes = £1 sterling,

4143840 fl.

=

833

Ex. 8. Required the value, in Flemish money, of a bill for £290. 11s. 10d. sterling; exchange at 33s. 10d. Flemish per £1 sterling, and agio at 4 per cent.

£133s. 10d., or 406d. Flemish banco,

..£290. 11s. 10d.=290-7 × 406d.=11798013d. banco. 100 banco=104 currency,

Now,

.. 11798013d.

1179801 × 1044d.

=

or 123289.32d., or

100

£513. 14s. 14d. Flemish.

Ex 9. Reduce 4500 marks current of Hamburgh into pounds sterling exchange at 13 marks 5 schillings per £1 sterling, and agio 20 per cent.

.120 currency=100 banco,

45000

..4500 marks =

=3750 marks banco.

But 13 marks 5

12 schillings = £1,

3750 × £1 £60000

..3750 marks =

£281. 13s. 94d.

=

13m. 5sch. 213

Ex. 10. In £550 sterling, how many Prussian thalers, &c.; exchange at 6 thalers 25 silber groschen per £1 ?

£16 thalers 25 silbg.,

..£550=550×6 thalers 25 silbg.=3767 thalers 15 silbg.

Ex. 11. If 3000 milrees were paid at Lisbon for a bill upon London of £666. 13s. 4d., what was the course of exchange. 3000 milrees = £666. 13s. 4d,

Ex. 12. If port wine be bought for £236. 14s. 84d. British, what is the cost in Portuguese money, at 4s. 11d. per milree? 4s. 11d., or 59d.=1 milree,

...]d.= milree ;

..£1=240 milree;

And £236. 14s. 83d,= £236. 14s. 84d. × 249=962 milrees 991 rees.

Ex. 13. Bought, Seville oranges, to the amount of 1927 piastres 3 reals vellon. For what sterling money must the bill be drawn, exchange at 3s. 34d. per piastre?

.. 1023.851 piastres = 1023.851 × 3s. 34d., or £169. 11s. 6.077d.

Ex. 14. If a bill of £89. 2s. 11d. be drawn upon London, what is the value at Cadiz, in reals of plate, &c.; exchange at 40d. per piastre ?

40d.1 piastre,

..£1240 pi. = 6 pi. ;

..£89. 2s. 11d.= £89. 2s. 111⁄2d. × 6 pi.=534.8875 piastres., or 4279 reals 33 maravedis.

Ex. 15. Reduce £984. 6s. 8d. British to dollars (American), exchange at 4s. 7d. per dollar.

4s. 7d., or 55d. = 1 dollar, ..£10 dollars=4 dollars;

..£984. 6s. 8d.=

£984. 6s. 8d. × 48

11

-4295 dols. 27 cents.

Ex. 16. A merchant in New York consigns to his factor, in London, goods amounting to £7150. 14s. currency. What sterling money must the factor remit, after deducting 2 per cent. for commission; exchange at 65 per cent.?

£165 American currency=£100 sterling,

.. £7150. 14s American currency: £4333. 15s. 1 8id.

=

20

£7150. 14s. X 100.

33

On accounts of commission, the factor remits 100 out of 1024, 102 are worth 100,

Ex. 17. The course of exchange between Paris and Hamburgh is at 185 francs 25 centimes for 100 marks banco. What will be the change for 545 marks banco?

..100 marks=185 francs 25 cents,

..545 marks:

545 × 185 fr. 25 c.

100

or 1010.53875 francs.

Ex. 18. A has 2000 Prussian sechstelsthaler, valued at 17} kreuzers each; but by exchange he obtains 569 florins 20 kreuzers. How much did he lose?

·.·1 sechstelsthaler is worth 17 kreuzers,

..2000 sechstelsthaler are worth 2000 × 17 kzr., or 35000 kzr.

By exchange he obtains 569 florins 20 kzr., or 34160 kzr. ..the loss=840 kzr., or 48 sechstelsthalers.

Ex. 19. Convert 1200 Austrian florins into bank rubles of Russia; exchange at 33 kreuzers per ruble.

33 kreuzers are equivalent to 1 ruble, ..1 kreuzer is equivalent to ruble;

33

..1200 fl., or 72000 kzr. are equivalent to 72000 rubles, or 2181 rubles 82 copecks.

Ex. 20. A gentleman invests £1200, value 25.15 francs, in the French rentes or stocks, at 5 per cent., at 80. What will his income be in ducats, &c., of Naples; exchange at 4 francs 40 centimes per ducat?

·.·£1=25.15 francs,

..£1200-1200 × 25.15 francs, or 30180 francs.

Now, 80 bring 5 income,

..1 brings, or 1%;

16

..30180 francs bring 30180 francs, or 1886.5 francs. But 4.50 francs are equivalent to 1 ducat,

..1886.5 francs are equivalent to

3.75 tari.

1886.5 duc.

or 428 ducats

4.50

313. EXERCISES.

1. Convert 843 guilders 9 stivers (bank) into current, agio 51⁄2 per cent.

2. In £840. 16s. sterling, how many rix-dollars current; agio 47, and exchange at 34s. 74d. Flemish per £1 sterling?

3. In £640. 15s. sterling, how many marks banco; exchange at 35s. 6d. Flemish per £1 sterling?

4. A bill of £454 15s. 6d. is remitted to Paris by a merchant in London. What is the value in francs and centimes, exchange at 24 francs 75 centimes per £1 ?

5. In 12450 piastres 2 reals 40 maravedis of plate, how much sterling; exchange at 3s. 4d per piastre?

6. Leghorn receives from London a bill of £748. 18s. sterling, to be paid in lira, &c.; exchange at 28 lira 60 centimes per £1. How much will be received?

7. London exchanges with Portugal, at 4s. 94d. per milree, and afterwards at 4s. 53d. How much is lost per cent. by the last transaction, compared to the former ?

8. Reduce £364. 18s. 6d. sterling to Flemish, exchange at 36s. 9d. per £1 sterling.

9. In 4646 marks 14 schillings of Hamburgh currency, how many pounds sterling; exchange at 13 marks 8 schillings per £1 sterling, agio at 22 per cent.?

10. In 24645 dollars specie 60 skillings, how many pounds sterling; exchange at 11 rix-dollars banco 12 skillings per £1 sterling?

11. New York is indebted to London £2989. 10s. currency, What sterling money may London reckon to be remitted, when the exchange is 60 per cent. ? 12. Reduce £345. 10s. 6d. British to guilders, &c., currency; exchange at 37s. 6d. Flemish per £1 sterling, and agio at 44 per cent..

13. Required, the value in Hamburgh banco of a bill for £832. 14s. 6d. sterling; exchange at 36s. 8d. Flemish per £1 sterling.

14. Sold, goods for 36748 francs 35 centimes. Find the value, exchange at 24 francs 50 centimes per £1 sterling.

15. In 8464 dollars 40 cents, how many pounds sterling; exchange at 4s. 4d. per £1 British?

16. Reduce £364. 4d. sterling to rix-dollars, &c., of Vienna; exchange at 3s. 8d. sterling per rix-dollar.

17. Convert 2480 rubles of St. Petersburgh into francs; and conversely, convert 14580 francs into rubles; exchange at 1 franc 60 centimes per ruble.

18. Frankfort remits 7000 francs to Paris; the course of exchange at Frankfort is 200 francs per 943 florins, and in Paris 100 florins per 212 francs. What sum, in florins, must be remitted, according to each course, and which is the one preferred?

19. What is the value of 3560 rubles, drawn on Holland, exchange at 48 stivers per ruble, commission there per cent.; and from Holland to London, exchange at 35s. 4d. Flemish per £1 sterling?