*4. By selling cloth at $3 a yard, 25% was lost: what was the cost price per yd.? Ans. $4.

Rule for Case IV.—Add to, or subtract from, $1, as may be required, the per cent. of gain or loss on $1; divide the selling price by the result; the quotient will be the cost.

Or, by PROPORTION. As 100 increased by the per cent. of gain, or diminished by the per cent. of loss, is to 100, so is the selling price to the cost.

Observe, that the per cent. of profit or loss is always calculated on the cost, and not on the selling price.

5. A jockey sold a horse for $75, and gained 25 %: what did the horse cost him? Ans. $60. 6. A jockey sold a horse for $75, and lost 25 %: what did the horse cost him? Ans. $100. 7. A grocer, by selling coffee at 22 cts. a lb., gains 10% find the purchase price per lb. Ans. 20 cts. 8. By selling cloth at $8.10 per yard, I gain 121 %: what the purchase price per yd.?

Ans. $7.20

9. By selling tea at $1.19 per pound, I lost 15 %: what the cost price per lb.?

Ans. $1.40

ART. 248. PROMISCUOUS EXAMPLES.

1. A buys 30 yd. muslin, at 6 cts. a yd., and sells it at 25% profit: what does he gain?

2. B bought 40 yd. of cloth for $250 per yd. must he sell to gain 20% ?

3. A bought 1 hhd. of wine for $75, 40 cts. a qt.: what the % profit?

10 years..

Ans. 45 cts.

at what price Ans. $7.50 and sold it for Ans. 34 %.

4. The population of New York, in 1830, was 1918604; in 1840 it was 2428921: find the gain per cent. in Ans. 26.5% + 5. The population of Ohio, in 1830, was 937903; in 1840 it was 1519467: what was the gain per cent. in 10 years? Ans. 62 % +

1

6. If calico is sold at 42 cts. a yd., at a gain of 10%, what was the cost price? what the gain %, if sold at 51 cts. a yard? Ans. Cost, 38cts. a yd. Gain, 334 %. bushel of rye for $1, and gained 25 %; bu. of wheat with the $1, and sold it at a what did I lose?

7. Sold a purchased a loss of 25%

Ans. 5 cts.

8. A merchant bought 14 pieces of cloth at $9.60 each; sold 5 pieces at $14.40 each, and 4 pieces at $12 each: at how much a piece must he sell the remainder, to gain 20% on the whole? Ans. $8.256

:

9. Sold wine at $1.29 a gal., and lost 14% at what price per gal. must it sell, to gain 14 %? Ans. $1.71 10. Sold cloth at $1.36 a yd., and lost 15 %: what % would I gain by selling at $1.856 a yd.? Ans. 16 %. 11. Sold silk at $1.96 a yd., and gained 12% price per yd. should I sell, to lose 16 %?

at what

Ans. $1.47

12. Sold satin at $1.682 a yd., and gained 16% what % will I lose, by selling at $1.247 a yd.?

13. How much cloth, at $5 a yd., must $100 by selling it at 25 % profit?

14. A grocer buys 200 casks of raisins cask; by selling at 5 cts. per pound, he what was the weight of cach cask?

I

Ans. 14 %.

buy, to clear Ans. 80 yd.

at $2.50 per gains 20% Ans. 60 lb.

15. Sold a quantity of corn, at $1 per bu., and gained 25 %; sold of the same to the amount of $59.40, and gained 35 %: at what rate did I sell : how many bu. in the last lot?

Ans. $1.08 per bu., and 55 bu. For additional problems, see Ray's Test Examples.

ASSESSMENT OF TAXES.

ART. 249. A TAX, is a sum assessed on the citizens of a town, county, state, or district, for public purposes. Taxes are of two kinds a property tax and a poll-tax.

A PROPERTY TAX is a certain per cent, assessed on the taxable property held by each person.

A POLL-TAX is a specific sum assessed on male citizens over 21 years of age. Each person so taxed is called a pofl.

REM. In some States the whole tax is raised on property; in other States, partly on property and partly on polls.

ART. 250. When a tax is to be assessed, first obtain a list or inventory of the amount of taxable property, from which the tax is to be collected.

If there be a poll-tax, make a list of the polls.

TO ASSESS A TAX, OBSERVE THIS

Rule.-1. If there be a poll-tax, find its amount, by multi plying the tax on each poll by the number of polls. Subtrac this from the whole amount of tax to be raised; the remainder will be the sum to be raised on property.

2. Divide the tax to be raised on property by the whole amount of property; the quotient will be the per cent. of tax on $1.

3. Multiply the per cent. of tax on $1 by the amount of each person's property, the product will be his property tax.

4. Add the poll-tax, if any, of each person to his property tax; the sum will be his whole tax.

1. A tax of $500 is assessed in a district, to build a school-house; the property is valued at $125000: what the % of tax? Ans. .004, or 4 m. on $1.

What the tax on $1650?

Ans. $6.60

2. A tax of $9057.00 is assessed in a county whose axable property is valued at $534650; also, a list of 1258 polls, cach taxed $1.25: what the % of tax on property? Ans. .014, or 1c. 4m. on $1.

NOTE. In preparing tax lists, after finding the per cent. of tax, assessors make a table embracing the tax on dollars from 1 to 10; then on 10, 20, &c., to $100; then on 100, 200, &c., to $1000.

The following table, computed for the preceding example, is calculated by multiplying the tax on $1 by the number of dollars on which the tax is required.

REVIEW.-249. What is a tax? What a property tax? A poll-tax? 250. When a tax is to be assessed, what is to be first obtained? 250. How assess a tax, Rule? NOTE. How calculate a tax-table?

TAX TABLE.-RATE, 14 MILLS ON $1.

3. What, by the Table, was A's tax; his property valued at $756, he paying for 2 polls?

4. What, by the Table, was B's tax; his property valued at $1243, he paying for 3 polls?

Ans. $21.152

5. C's property is valued at $3589, and he pays for 4 polls: what is his tax?

AMERICAN DUTIES.

Ans. $55.246

ART. 251. DUTY is a tax, levied by the Government on goods imported from a foreign country.

NOTE.-Duties are of two kinds, Specific and Ad valorem.

A SPECIFIC duty is a fixed sum per tun, gallon, yard, &c., without regard to value.

An AD VALOREM duty, (according to value), is a certain per cent. of the cost of the goods in the country from which they were imported.

In reckoning duties, deductions are made from the gross weight These are termed, draft, tare, and leakage.

or measure.

REVIEW.-251. What is duty? Specific duty? Ad valorem?

DRAFT is made, that the quantity may hold out when retailed.

TARE is an allowance (after deducting the draft), for the weight of the box, cask, &c., containing the goods.

GROSS weight is the weight before deducting draft and tare. NET weight is the weight after deducting the draft and tare. LEAKAGE is an allowance of 2 per cent. on all liquors in casks, paying duty by the gallon.

Duties are computed on what remains after deducting all allowThe calculations are an application of percentage.

ances.

1. Find the duty on 3 boxes of Sugar, of 100 lb., 182 lb., and 264 lb., at 2 cts. a lb., allowing for draft, and deducting 15 % for tare. Ans. $9.18

First deduct the draft (6 lb.), then 15 per cent. of the remainder for tare, and compute the duty on the last remainder.

2. What the duty, at 20 % ad valorem, on 40 bales of wool, of 400 lb. each, cost, in Spain, 25 cts. a lb., the tare 5% ?

Ans. $752.40 3. A merchant imports 75 cases of indigo, gross weight 196 lb. each: allowing 15 % for tare, what the duty at 5 cts. per lb.?

Ans. $618.375

ART. 252. PARTNERSHIP is an association of persons for the transaction of business: such, is called a firm or house; and each member, a partner.

REVIEW.-251. What are the allowances for draft? What is tare? Gross weight? Net weight? Leakage? On what are duties computed ?