SIMPLE INTEREST BY DECIMALS. RULE.* Multiply continually the principal, ratio and time, and it will give the interest required. Ratio is the simple interest of 11. for 1 year, at the rate per cent. agreed on; thus the ratio The following theorems will shew all the possible cases of simple interest, where p principal, time, r = ratio, and EXAMPLES. r. What is the interest of 9451 10s. for 3 years, at 5 per cent. per annum ? 2. What is the interest of 7961. 15s. for 5 years, at 4 per cent. per annum ? Ans. 1791. 5s. 41⁄2d. 3. What is the interest of 5371. 15s. from November 11, 1764, to June 5, 1765, at 3 per cent. ? Ans. 111. d. COMMISSION. COMMISSION is an allowance of so much per cent. tó a factor or correspondent abroad, for buying and selling goods for his employer. EXAMPLES. EXAMPLES. 1. What comes the commission of 500l. 13s. 6d. to at 2. My correspondent writes me word, that he has bought goods on my account to the value of 754l. 16s. What does his commission come to at 2 per cent. ? Ans. 181. 175. 44d. 3. What must I allow my correspondent for disbursing on my account 529l. 18s. 5d. at 24 per cent. ? Ans. 111. 18s. 5d. BROKERAGE. BROKERAGE is an allowance of so much per cent. to a person, called a Broker, for assisting merchants or factors in procuring or 'disposing of goods. EXAMPLES. EXAMPLES. 1. What is the brokerage of 610l. at 5s. or per cent.? he de 2. If I allow my broker 34 per cent. what may mand, when he sells goods to the value of 8761. 5s. 10d. ? Ans. 321. 175. 2d, 3. What is the brokerage of 8791. 18s. at per cent.? Ans. 31. 5s. 112de INSURANCE, INSURANCE is a premium of so much per cent. given to certain persons and offices for a security of making good the loss of ships, houses, merchandize, &c. which may happen from storms, fire, &c. EXAMPLES. EXAMPLES. 1. What is the insurance of 8741. 13s. 6d. at 131 per 2. What is the insurance of 9ool. at 10 per cent. ? Ans. 961. 155. 3. What is the insurance of 1200l. at 7 per cent.? Ans. 911. 10s. DISCOUNT. DISCOUNT is an allowance made for the payment of any sum of money before it becomes due; and is the difference between that sum due some time hence, and its present worth. The |