(2) Three men invested in a $6000 hardware business. At the end of the first year their gains were $3000. The first invested $1600 the second $2000, and the third $2400. Find each one's share of the profit. (3) A and B are partners; A invests $10,000 for 8 mo. and B $15,000 for 6 mo. Their gains amount to $6800. What is each man's share? (4) The rent of a field is $72. A puts in 24 sheep for 30 weeks and B 40 sheep for 36 weeks. How much should each pay? (5) A, B, and C are partners. A put into the business $6000, but withdrew of it at the end of 6 mo.; B put in $4000, and added $100 at the end of 4 mo.; C put in $5000 for the whole year. The gain during the year was $10,200. Find each one's share. (6) A bankrupt's liabilities are $35,000, and his assets $31,250. If the assignee's expenses are $1500, what will a creditor whose claim is $3400 receive? APPENDIX Foreign money 1-English. Show English coins. Is foreign money ever received in stores? Customers from what foreign lands visit our stores? 1. The unit of United States money is the dollar; do you know the unit of English money? French money? German money? The interchange of commerce between the United States and foreign countries necessitates the exchange of foreign money into United States money. 2. An Englishman visiting this country has £50, 8s. 6d. What must he do with this money in order to pay his bills? Where can this exchange of money be made? Will he lose by this transaction? Why do banks charge for this exchange of foreign money into United States money? 3. English money is the currency of Great Britain, the unit being the pound (£). TABLE OF ENGLISH MONEY WITH UNITED STATES EQUIVALENTS 4 farthings (far.) = 1 penny (d.) = $0.02 12 pence 20 shillings =1 shilling (s.) =$0.243+ =1 pound sterling (£)=$4.8665 (1) From the above table find the equivalent in United States money for £50, 8s. 6d. (2) Of £25; of £7, 3s. 2d. 1 Unless otherwise indicated the normal rate of exchange is used throughout. The present rate of exchange, the result of war conditions, is subject to rapid change, and it is uncertain when the normal rate will be reëstablished. (3) What is the value of £300 in United States money? (4) Change £15 to dollars; £35 to dollars. (5) I sold 10 pr. shoes at 6 shillings a pr. pounds sterling did I receive? How many (6) At 10d. per hour, how much English money did an Englishman receive in 6 days, if he worked 8 hours a day? (7) How much United States money would he receive in exchange for £2, 10s? (8) Solve the above problems on the basis of the current rate of exchange. Show French coins. In France, the currency is decimal. 1. What advantage has a decimal currency? The unit of French money is the franc, which equals $0.193 or approximately 20¢ of United States money. 2. How many francs equal $1 of United States money? 3. How much United States money is equal to a ten-franc piece? 4. A twenty-franc piece? 5. A forty-franc piece? 6. A hundred-franc piece? 7. A two-franc piece? 8. Change 15 francs to United States money. 9. Change 23 francs to United States money. 10. Find the cost of 6 books at 8 francs apiece in United States money. 11. Change $30 to francs. 12. Change $45 to francs. 13. A Frenchman changed 500 francs for United States money. $1.50 was charged for the exchange. How much United States money did he receive? 1 See note on page 381. 14. Solve the above problems on the basis of the current rate of exchange. Foreign money1-German. Show coins. The unit of German money is the mark. Its value is $.2385 in United States money, or 24¢. 1. What is the value of a 5-mark piece? 2. Of a 10-mark piece? 3. Of a 20-mark piece? 4. Change 19 m. to United States money. 5. Change $55 to German money. 6. Change 26 m. to United States money. 7. Change $100 to German money. 8. A clerk earns 4 m. per day. What is the equivalent in United States money? 9. How many marks should be received in exchange for $14.40? 10. If a German should exchange 900 marks for United States money, how much would he receive? 11. Solve the above problems on the basis of the current rate of exchange. Equivalents. Approximate equivalents of foreign money in the United States: One pound = $5.00 One shilling = $.25 One lira = $.193 One mark (m.) = $.25 One franc (fr.) = $.20 One rouble = $.514 Give the value of each of the above amounts to-day. Problems (1) An American sees the following prices in a London shop window: Gloves, 4/8 (4s. 8d.); stockings, 1/10; gown, 55/0; coat 2-5-6, 1 See note on page 381. |