Εικόνες σελίδας
PDF
Ηλεκτρ. έκδοση

PERCENTAGE.

The term per cent, means a hundredth part of the thing spoken of. The term is generally used to express the interest on money, but may also be employed to designate hundredth parts of other things. Thus, when we say twenty per cent of a bushel of wheat, we mean twenty hundredths, or one-fifth of it.

EXAMPLES.

1. A has $426 deposited in the bank, and wishes to draw out 5 per cent of it: how much must he draw for? Ans. $21,30.

2. A merchant has 600 barrels of flour; he shipped 64 per cent of it and sold the remainder: how much did he sell?

3. A merchant bought 400 hogsheads of molasses. On getting it into his store, he found it short, 3 per cent: how many hogsheads were wanting? Ans. 14. 4. Two men had each $240. One of them spends 14 per cent, and the other 18 per cent: how many dollars more did one spend than the other?

5. What is the difference and 6 per cent of $350 ?

between 5 per cent of $400 Ans. $0,75.

6. A trader laid out $160 as follows: He pays 24 per cent of his money for broadcloths; 30 per cent of what is left for linens; 12 per cent of what is left for calicoes; and then, 5 per cent of the residue for cottons: how much did he pay for cottons?

7. A man purchases 250 boxes of oranges and found that he had lost in bad ones 18 per cent: To how many full boxes were his good oranges equal? Ans. 205.

8. If I buy 895 gallons of molasses and lose 17 per cent by leakage, how much have I left?

To find the rate per cent.

1. If I buy 6 hogsheads of molasses for $200 and sell them for $220, what do I gain per cent on the money expended?

per

It is plain that $20 is the amount made. What cent is this of $200: that is, how many hundredths of $200? If we add two ciphers and divide, the quotient

will express the hundredths: Thus,

[blocks in formation]

that is, 20 is ten per cent of 200.

Hence, to determine the per cent which one number is of another, we have the following

RULE.

I. Bring the number to hundreds by annexing two ciphers or removing the decimal point two places to the right.

II. Divide the number so formed by the sum on which the percentage is estimated: the quotient will express the per cent.

2. A man has $550 and purchases goods to the amount of $82,75: what per cent of his money does he expend? 3. A merchant goes to New-York with $1500; he first lays out 20 per cent, after which he expends $660: what per cent was his last purchase of the money that remained after his first? Ans. 55 per cent.

4. Out of a cask containing 300 gallons, 60 gallons is drawn what per cent is this?

:

5. If I pay $698,33 for 3 hogsheads of molasses and sell it for $837,996, how much do I gain per cent on the money laid out? Ans. $20 per cent.

6. If I pay $698,33 for 3 hogsheads of sugar and sell them for $837,996, how much do I make per cent on the amount received?

7. A man gave his note for $240, and soon after made a payment of $160: what per cent of the debt did he pay? Ans. 663 per cent.

The per cent of loss or gain being given, and the amount received, to find the principal or cost.

1. I sell a parcel of goods for $170, by which I lose 15 per cent: what did they cost?

It is evident that the cost, less 15 per cent, that is, less

15 hundreths of the cost, is equal to $170. Hence, 85 hundredths of the cost is equal to $170; and consequently, the cost is equal to

$170×100÷85-$200 cost.

Hence, to find the cost when there is a loss,

Multiply the amount received by 100 and divide the duct by the difference between 100 and the per cent.

pro

2. Sold a parcel of goods for $195,50, on which I made 15 per cent: what did they cost me?

It is evident that the cost added to 15 hundredths of the cost, will be equal to what the goods brought, viz, $195,50. If we call the cost 1, then 100 of the cost, plus of the cost is equal to what they bring: That is 115 of cost $195,50;

100

or, cost equals $195,50×100÷115=$170.

Hence, to find the cost when there is a gain,

Multiply the amount by 100 and divide the product by 100 plus the per cent.

3. Sold cloth at $1,25 per yard and lost 15 per cent: For what should I have sold it to gain 12 per cent? Ans. $1,647019 per yard. 4. Sold cloth at $1,25 per yard and lost 15 per cent: what per cent should I have gained had I sold it at $1,647019 per yard?

5. Sold cloth at $1,647019 per yard and gained 12 per cent: for what ought I to have sold it to lose 15 per cent? Ans. $1,25 per yard.

INSURANCE.

1. What is the premium of insurance on $9870, at 14 per cent?

Ans. $1381,80. 2. A merchant wishes to insure on a vessel and cargo at sea, valued at $28800: what will be the premium at 13 per cent?

3. What is the premium on $750 at 13 per cent? Ans. $13,12.

4. What is the premium of $8750 at 3 per cent? 5. A merchant owns three-fourths of a ship valued at $24000, and insures his interest at 2 per cent: what does he pay for his policy? Ans. $450.

6. A merchant learns that his vessel and cargo valued at $36000, have been injured to the amount of $12000; he effects an insurance on the remainder at 5 per cent: what premium does he pay?

7. What is the insurance on my house valued at 5000 at 1 per cent ? Ans. $12,50.

BANKING.

When a bank discounts a note, it is customary to subtract from the face of the note the interest for the time which must elapse before the note becomes due; and the difference between this sum and the face of the note, is what the bank credits as the value of the note. A person

is not obliged to pay a note until three days after it falls due. These are called days of grace. The bank, that it may lose no interest, always charges interest for the days of grace. Thus, if a note is made payable in thirty days, a bank which discounts it will charge interest for thirtythree days.

1. What is the bank discount of a note of $1000 payable in 60 days, at 6 per cent interest? Ans. $10,49 9+.

2. A merchant sold a cargo of cotton for $7860 for which he receives a note at 6 months: how much money will he receive at a bank for this note, discounting it at 6 per cent interest?

3. What is the bank discount on a note of $100 payable in 60 days, discounted at 6 per cent per annum? Ans. $1,04 9+.

4. A has a note against B for $1728, payable in three months; he gets it discounted at 6 per cent interest: how much does he receive?

LOSS AND GAIN.

1. If I buy coffee at 16 cents and sell it at 20 cents: how much do I make per cent on the money paid? Ans. 25 per cent.

2. If I buy tea at 4s per pound and sell it at 4s 9d per pound: how much should I gain on a purchase of £100 ?

3. A merchant bought 650 pounds of cheese at 10 cents per pound, and sold it at 12 cents per pound: how much did he gain on the whole, and how much per cent on the money laid out?

Ans. (whole gain $13,00; 20 per cent.

4. Bought cloth at $1,25 per yard, which proving bad, I wish to sell it at a loss of 18 per cent: how much must I ask per yard?

5. Bought 50 gallons of molasses at 75 cents a gallon, 10 gallons of which leaked out. At what price per gallon must the remainder be sold that I may clear 10 per cent on the cost? Ans. $1,0311.

6. Bought a cow for $30 cash, and sold her for $35 at a credit of 8 months: reckoning the interest at 6 per cent how much did I gain ?

7. Bought 67 yards of cloth for $112, but 19 yards being spoiled, I am willing to lose 5 per cent: how much must I sell it for per yard? Ans. $2,2163.

8. Bought 67 yards of cloth for $112, but a number of yards being spoiled, I sell the remainder at $2,216 per yard, and lose 5 per cent: how many yards were spoiled ?

FELLOWSHIP.

1. A bankrupt is indebted $2729, viz: to A $500,37; to B $228; to C $1291,23; and to D $709,40; but his estate is only worth $2046,75. How much can he pay on the dollar, and how much will each creditor receive? 75 cents on the dollar; A gets $375,273; B $171; C $968,421; and D $532,05

Ans. {

« ΠροηγούμενηΣυνέχεια »