Εικόνες σελίδας
PDF
Ηλεκτρ. έκδοση

4. I invested $4535 in U. S. 4's at 1131, brokerage %. What does the government pay me annually in interest?

5. If 250 shares of stock are bought at 121 and sold at 131, brokerage % in each case, what is the net profit to the dealer?

6. One morning a man bought 1000 shares U. S. steel preferred at 125 and sold it a few hours later at 128. What is his net profit, after paying brokerage % both ways?

7. How much must be paid, including brokerage, for 250 shares of N. Y. C. R. R. stock at 134?

8. What per cent income shall I receive upon my investment if I buy 4 % bonds at 80? (Income on $80 is $4.)

9. Bonds selling at 90 pay 4% dividends. What per cent on the investment may be made by the purchase of these bonds?

10. I hold 100 shares of B. R. T. stock, which was quoted at 76 Jan. 4 and at 79 Jan. 6. How much has this advance in the market increased the value of my holdings in this stock?

PROFIT AND LOSS

268. The profit and loss in business transactions is usually named in terms of per cent on the money invested.

The per cent of profit or loss is always reckoned

upon the cost. The cost is the key to the solution of most problems in profit and loss.

Exercises and Applications

269. 1. What is gained by selling a hat that cost $3 at a profit of 20% ?

2. Sold a knife for 60 that cost 45%. What was the rate of gain?

3. Flour sold at $6 per barrel gives a profit of 20%. What is the cost?

4. A merchant selling goods at a profit of 10% makes $75. Find the cost and the selling price of the goods.

5. A merchant sold hats at a bargain sale for $2.99, gaining 15% on each hat. Find the cost of the hats and the net profit on the sale of 20 hats.

6. A boy buys apples at the rate of 3 for 5 and sells them at 2 each. What is the rate of profit? 7. A dealer marked the selling price of his goods. 25% above their cost. What per cent of their cost would he make or lose if he should sell them at a special sale 25% below the marked price?

8. What is the rate of profit on pencils bought at $4.50 per gross and sold at 5¢ apiece?

9. Pens bought at 40 a gross are sold at 2 for 14. What is the per cent of profit?

10. Chairs listed at $2.40 are bought at discounts of 20% and 5%, and sold at 10% above their list price. What is the per cent of profit?

11. If 8% is lost by selling a chair for $1.15, what was its cost?

12. By selling a wagon for $90, a dealer made 25% profit. Find the cost.

What is

13. A merchant sells his goods at 20% profit, but loses 5% of his sales for bad debts. his net rate of profit?

14. Bought gloves in Paris at 40 francs a dozen, paid a duty of $3 a dozen, and then sold them in Boston at $1.25 a pair. What was my net profit on 6 dozen pairs of gloves? What was the per cent of net profit on the cost in Boston?

15. Bought silk umbrellas in London at £5 a dozen, paid the duty of 50%, and sold them in New York at $4 each. What was my per cent of profit on the cost in New York?

16. Bought leather pocket-books in Germany at 1 mark each, paid the duty of 35%, and sold them at 50 each. What was the per cent of profit on the cost in this country? (1 mark = 23.8 cents.)

17. Bought scissors in England at 10 shillings a dozen, paid the duty of 75¢ per dozen specific and 25% ad valorem, and sold them at 50% a pair. What was the per cent of profit on the cost in this country, counting 1 shilling as $.243?

18. Sold a bill of goods costing $ 200, at a profit of 20%, receiving in payment a note without interest for 90 days which I had discounted at 6%. What was my net profit on the goods in cash value?

19. Sold some goods at 30% profit, but was unable to collect the full debt, and compromised on 80¢ on a dollar. What was my net per cent of profit or loss on the transaction?

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

PARTNERSHIP

270. When two or more persons enter upon some business, and have formal agreement about their shares of profit and loss, they are said to have formed a partnership, and are called partners.

271. The partners are sometimes referred to collectively as a "house," but are more often called a "firm."

272. Partnerships are usually formed by written contract, but may be formed by oral agreement or by the persons simply acting together in a common business transaction.

273. In the regular business transactions of the firm, the act of one partner is binding upon all.

274. The investment of a partner is called his capital, which may be money, real estate, stock,

labor, experience, "good will," or anything of value to the business.

Exercises and Applications

275. 1. Three men engage in business as partners; A invests $8000, B $12000, C $20000 of. the capital. Their net profit in one year is $1680. Find the share of each in this profit.

=

$8000+ $12000+ $20000 $40000, total capital. $1680 $40000.042, rate of gain. $8000 x .042= $336, A's gain.

$12000 x .042 $ 504, B's gain.

Х

=

[blocks in formation]

2. Three persons purchase a house for $2800. A pays $1200, B $1000, and C $600. The rent is $224 a year. How much of this rent should

each receive?

3. A, B, and C form a partnership, A furnishing of the capital, B, and C the remainder. Find each partner's share of a gain of $756 made in the business.

4. A firm loses $4600 in a business transaction. The partners have the following investments in the firm: A $10000, B $3000, C $6500, D $3500. Find each partner's share of the loss.

5. Smith invested $4200 in the firm of Smith and Jones, and his first year's profit was $840,

« ΠροηγούμενηΣυνέχεια »