983. 27. Each figure of the product is written two places to the right of the corresponding figure of the multiplicand. Principal, $375. $386.25 Amount 1 yr. $397.8375 Amount 1 yr. 11.9351 $ 409.7726 Amount 1} yr. $422.0657 Amount 2 yr. $ 428.3966 Amount 2 yr. 3 mo. $53.3966 Interest 2 yr. 3 mo. Ans. $428.40, amount; and $53.40, interest. It is not necessary throughout the work to carry the multiplication beyond four places of decimals. 985. 6. After deducting the first 25%, or 1, of list price remains; a second discount of of this remainder leaves of this remainder, or sof of list price, or lo of list price = 90%. List price = 90¢ : 16 = 90¢ x 16 =$1.60. 7. All together can do (1 +*+b) of the work in 1 hr. 8. Selling price, $60 = of value of cow; of value = $60 = 3.= $20, the loss. 9. Selling price, $60 = of value of cow; & of value = $60. :5=$12, the gain. 986. 6. The wrong weights are 15%, or 64 of correct weights, so that the customer receives for $352, 61 of this amount, the gain to the grocer being of $352, or $16.50. By selling 161 oz. to the pound, the grocer gives 1 of the proper amount, his loss being 32 of $ 320, or $ 10. The net gain is $16.50 - $10 = $6.50. Ans. 7. Cost of alcohol, $2.50 x 42=$105; 3 yr. interest on $105 =$18.90.' Amount to be realized, $ 105 + $18.90 = $123.90. Number of gallons to be sold, 42 – 7 = 35. Selling price per gallon, $123.90 - 35=$3.54. 8. £ 4500 = $4.85 x 4500 =$21825. Income on consols at 3% =$654.75. Selling price of consols, $21825 X.96; value of U. S. bonds, $21825 X .96 = 108. Canceling, we obtain $19400; 6% of which gives the income on bonds = $1164. Difference = $1164 - $654.75 = $509.25. Ans. 9. Number of cubic feet = 9 x 9} x 68 = 609; weighing 609000 oz.; etc. 988. 11. Agent collected 80% of $4500 = $3600; on this, his commission at 71% is $270; making the amount to be given me = $3600 – $270. Find the discount for 17 da., the time from June 20 to July 7. 15. Ignoring the price — if he could buy 80 lb. with 811% of his money, he could buy with 100%, (80 lb. – 811) 100. 17. Let x = cost of each cow; 6x = cost of 6 cows; com 3 mission = of 6x = 10; cost and commission = 6x + 100 ¢7 100 =525.30. 18. The note is discounted 35 da. after it is made, so that it has (93 – 35) da. to run, or 58 da. [Without grace, 55 da.] "The interest for a year is $36, which is 10 cents a day, or $5.80 for 58 days; etc. 19. If the selling price (regardless of its amount) is six-fifths of the cost, the gain is { of cost, or 20%. 989. 6. The walls contain [(20 + 15 + 20+15) x 10] sq. ft.; the ceiling contains (20 x 15) sq. ft. Dividing by 19, the width in feet of the paper, gives the number of feet of paper required, which is then reduced to yards. 991. 7. Dividend is 34% of ($9562.50 = 1.271). 993. Mr. Smith wishes to pay Mr. Thompson the exact amount of his bill. A check on a Memphis bank for $3475.86 would not be sufficient, as Mr. Thompson would have to pay a New York bank for collecting the check in Memphis. As the charge may not always be the same, Mr. Smith cannot know how much to add to the amount of his bill to cover this expense. From a banker that has an account in a New York bank, he can obtain a draft, payable in that city, for the exact amount, by giving the Memphis banker $3475.86 + $5.21, or $3481.07. Exchange is at a premium when the cost of a sight draft is greater than its face; it is at a discount when the cost of a sight draft is less than its face. BANK CHECK. Quogue, N.Y., lan. 3, 1896. No. 1492. SHINNECOCK NATIONAL BANK. mm Sixty-Eight w o Dollars HOWELL & PENNIMAN. An examination of the above check will show wherein it differs in form from the draft. A draft may be made payable at a future time, whereas a check is always payable on presentation. 33 8. 26% = 1000; X - i = 632.18. 9. x + - 1000. 4000 10. $339.66 – (2% of $339.66)=sum remaining for the purchase of dry-goods, etc., and the commission. Dividing this by 1.02 gives the cost of the goods. Another method of solving the foregoing is to indicate the money remaining as $339.66 x.98. Using 1.02 as a divisor, and canceling, gives the result. 339.66 x 98 102 994. 2. Noon Monday to 6 P.M. Thursday=78 hr. The loss in time = 35 sec. X 78= 45 min. 30 sec. The time shown is 6 hr. - 45 min. 30 sec. =5 hr. 14 min. 30 sec., or 144 min. past 5. 4. The number of rows, 2 ft. apart in a space 36 ft. — 4 ft., is (32 = 2)+1=17. The number of plants, 16 in. apart in a row 60 ft. - 2} ft., or 57} ft., in length, is (57} = 1})+1= 44. Total number of plants = 44 x 17 = 748. If the rows run crosswise there will be 29 of them, each containing 26 plants. 6. Number of revolutions = 14 mi. -- 13 ft. 4 in. 995. 8. Length of a degree on the equator= 25000 mi. - 360. 20° will measure (25000 - 360) × 20. Cancel. 9. The circumference = 18 ft. X 3.1416. Divide by 360. Cancel. 10. The difference is 20°, and the distance will be about onehalf that found in 8. The teacher should remember that the shortest distance between these two places is not measured on the parallel of 60°. The shortest distance between two points on a sphere is measured by the arc of a great circle joining the points, and the 20° are to of a small circle. 11. 46° 22' 30" = 463°. The number of miles = 691 x 46%. 12. The approximate length of the 45th parallel is 25000 mi. x.7071; the length of a degree on this parallel = (25000 mi. X.7071) = 360; multiplying by 227 gives the required distance. Cancel. 996. Time drafts are so little used that it is scarcely worth while to spend much time on their study. A sight draft being payable on presentation (except in those states allowing days of grace), there is no need of formal acceptance. Acceptance is necessary in the case of time drafts, as they are not payable until the specified time after this acceptance. The acceptance of a draft makes the person or corporation accepting it liable to its owner for the amount, a draft being transferable by endorsement just as a check or a note. 997. In calculating the cost of a sight draft, days of grace — even when allowed - do not enter into the result, this being included in the rate charged. Time drafts are allowed days of grace, except in the states given in the Appendix, Art. 1305. The number of states in which days of grace are no longer allowed, increases yearly, there being no good reason for promising to pay in 60 da. when the intention of the signer is to take 63 da. 1000. 1. Although days of grace are not allowed in California, the pupils of other states should not be expected to know this. In states that grant days of grace, they should be allowed in every note or time draft, no matter where payable; while in the other states, pupils should be taught not to employ them in any case. The premium on the draft = $1.75 X .840= $1.47. The interest (with, days of grace) = $840 X 160 x = $13.02. The cost of the draft =$840+$1.47 – $13.02 =$828.45. Ans. Or, without days of grace : $ 840 x 180 x = $12.60, the cost being $840 + $1.47 - $12.60 = $828.87. Ans. Some teachers prefer to find the cost of a draft for $1 at the given premium — in this case, $1.00175; from which is deducted the interest on $1 for 93 da., or $.0155; making the cost of a |