§ 183. One number is said to be an aliquot part of another, when it forms an exact part of it: that is, when it is contained in that other an exact number of times. For example, 25 cents is an aliquot part of a dollar. It is an exact fourth part, and is contained in the dollar four times. So also, 2 months, 3 months, 4 months, and 6 months, are all aliquot parts of a year. Ex. 1. What is the cost of 376 yards of cloth at $0,75 per yard? T Had the cloth cost $1 per yard, the cost of the 376 yards would have been $376. Had it cost 50cts. the cost would have been of $376, or it been 25cts. per yard, the cost would of $376 or $94; but the price being d, the cost is 188+94 $282. Ex. 2. What is the cost of 196 yards of cotton, at 9d per yard? 3. What will 94 yards of cloth cost at £1 4s 6d 4. What is the cost of 1000 quills at cent per quill? Ans. $2,50cts. 5. What is the cost of 900 lead pencils at 6 cents apiece? Ans. $54,00. 6. What is the cost of 2016 of soap at 63cents per pound? Ans. $1,35. 7. What is the cost of 140 yards of tape at 24cts. per yard? Ans. $3,15. 8. What is the cost of 438 bushels of apples at 314cts. per bushel? Ans. $136,87. 9. What is the cost of 514 tons of hay at 12 dolls. per ton? Ans. $618. 10. What is the cost of 231 yards of linen at 75 cents per yard? Ans. $173,25. 11. What is the cost of 1447% of rice at 3d per pound? Ans. £2 2s. 12. What is the cost of 14 yards of cloth, at 43 dolls. per yard? Ans. $67,682. 13. What will 1317% of cheese come to at ls 2d per lb. ? 3d Ans. £7 12s 10d. 14. What will 144 dozen of eggs come to at ls dozen ? per Ans. £9. 15. What will 6gal. 1qt. 1pt. 2gi. of wine come to, at 5s 4d per quart. Ans. £6 17s 4d. 16. What will 51 acres of land be worth at £3 2s 2d per acre? Ans £158 10s 6d. 17. What will 15cwt. 2qr. 177b. of sugar come to at 1s per pound? Ans. £87 13s. 18. What will 4E. E. 3qr. 2na. of broadcloth cost at £2 3s 8d per yard? Ans. £12 16s 61⁄2d. 19. What will 1hhd. 2gal. 3qt. 1pt. 1gi. of molasses come to at 12дcts. per quart? Ans. $32,95. 20. What will be the cost of 27bu. 3pk. 6qt. 1pt. of wheat, at 10s 2d 3far per bushel? Ans. £14 5s 11d0fffar. of SIMPLE INTEREST. 184. Interest is an allowance made for the use that is borrowed. money For example, if I borrow $100 of Mr. Wilson, for one year, and agree to pay him $6 for the use of it, the $6 is called the interest of $100 for one year, and at the end of the time Mr. Wilson should receive back his $100 together with the $6 interest, making the sum of $106. 185. The money on which interest is paid, is called the Principal. The money paid for the use of the principal is called the Interest. The principal and interest taken together are called the Amount. In the above example, $100 is the principal 6 is the interest and $106 is the amount. The interest of $100 or £100 for one year, determines the per centage or rate of interest. In the example above the rate of interest is 6 per cent., or $6 for the hundred. Had $8 been paid for the use of the $100, the rate of interest would have been 8 per cent.; or had $3 only been paid, the rate of interest would have been 3 per cent. In the New England States, and indeed in most of the other states, the legal interest, that is, the rate of interest established by law, is 6 per cent. 8 In New York, however, it is 7 and in Louisiana per cent. CASE I. 186. To find the interest on any given principal for one or more years. RULE. I. Multiply the principal by the rate of interest, and divide the product by 100: the quotient will be the interest for one year. II. When the number of years exceeds one, multiply the interest for one year by the number of years: the product will be the interest for that number of years. Ex. 1. What is the interest of $650 for one year, at 6 per cent? $100 $6 $650: $39,00 Ans. :: It is plain, that $100 is to $6, its interest for one year, as $650 to its interest for the same time. The fourth term is found by multiplying the second and third terms together and dividing by the first, § 109. Hence the reason of the rule is evident. 2. What is the interest on $950 for four years at 7 per cent. perann. ? $950 $66,50 Interest for 1 year $266,00 Ans. $266. 3. What is the interest of $327,45 for one year, at 6 per cent. perann. ? |