30. Smith owned 46% of a farm worth $7250. He sold 30% of his share to Preston, and 22% of his share to Walker. Find the value of the land he now owns.

31. 19% of a merchant's stock of goods was destroyed by fire. He sold 60% of the remainder at 25% profit, and sold what now remained at 12% profit. How much did he receive, his stock at first being worth $4400?

32. I bought 100 yards of carpet at $.80 per yard. I sold 52 yards at $.92 per yard, and the remainder at 15% profit. How many % did I gain on the whole lot?

33. Davis raised 1003 bushels of potatoes, which were 18% more than 80% of the number of bushels King raised. Find the number of bushels King raised.

34. Equal quantities of coffee that cost 193 cents, 221⁄2 cents, 24 cents, and 293 cents are mixed and sold at 30 cents. What is the gain %?

35. In a sum of money containing $1300, $585 is currency, $455 is gold, and $260 is silver. What % of the sum is in currency; what % in gold; what % in silver?

36. A merchant who began business with $1500, gained 35% the first year. 80% of the gain was left in the business. The second year he gained 30% on what he had. Find his capital at the close of the second year.

37. A farmer paid $720 for a horse, a wagon and a reaper. He paid 60% more for the wagon than for the horse; and 25% more for the reaper than for the wagon. How much did he pay for each?

38. A manufacturer owning 60% of a factory, sold 121% of his share at 20% profit and received $1440. Find the value of the factory.

39. Brown deposited 65% of his money in a bank. He paid 40% of the remainder to Myer on a debt, and 30% of what yet remained for a suit of clothes; when he found he had but $14.70 left. How much did he have at first?

40. The value of my farm increased 20%, and again 25%; then it decreased 10%, and again 20%. I now sold for $2160.

Find the original value of the farm and the amount I would have received if I had sold after the second increase.

41. A capitalist has 71% of his money invested in U. S. bonds; 12% in real estate; 33% in bank stock; 15% in mortgages; 41% in city bonds; $40000 in telegraph stock. He has on deposit $3500. Find the value of his property.

20% of the brick house Find the cost of each. 30% of B's money, and

42. A paid $4800 for two houses. was equal to 30% of the frame house. 43. 25% of A's money is equal to 40% of B's money is equal to 32% of C's money. How much money has each, if 35% of C's money is $252 ?

44. A dealer purchased a quantity of oysters, fish and clams, and paid for the entire quantity $166.75. The cost of the fish was 45% of that of the oysters, and the cost of the clams 25% of that of the oysters and fish together. What was the cost of each?

45. The sales of a firm were increased 25% the second year, 20% the third year, and 163% the fourth year. What was the amount of sales during the first year, if the fourth year's sales were $64442?

46. The amount is $361.10, the percentage $47.10. What is the rate of percentage?

PROFIT AND LOSS

258. Profit and Loss are commercial terms used to express the gain or loss in business transactions.

259. The Cost of goods is the sum paid for them, or the expense of producing them.

The Prime Cost of an article is its original or first cost.

The Gross Cost is the original cost of an article increased by all expenses such as freight, duty, packing, commissions, cartage,

etc.

260. The Selling Price of goods is the sum received for

them.

261. Profit is the sum above cost for which goods are sold. 262. Loss is the sum below cost for which goods are sold. The gain or loss is usually estimated in business transactions at a certain % on the gross cost.

263. In computations in profit and loss 1. Cost = Base.

2. Gain or Loss Percentage.

=

The subjects of Profit and Loss, Marking Goods, Trade Discount, Commission, Insurance, and Taxes are but applications of Percentage. Their problems may be classified the same as in Percentage but as these classifications have been duly considered in the study of Percentage they will not be repeated in these subjects. The pupil should endeavor to clearly understand the relations of the parts of a problem that are given and from these by a process of reasoning determine the unknown or required part. He should learn as rapidly as possible to become independent of either formula, rule or classification, for in business problems are not presented tabbed with a rule nor classified by a case.

ORAL PROBLEMS

1. I paid $4 for a hat and sold it at a gain of 25%. How much did I gain?

2. Find the gain:

3. Find the loss:

Cost $84, sold at a gain of 10%? 20%?
Cost $60, sold at a loss of 20%? 25%?

4. Find the gain in the following: Cost $120, sold at a gain of 12%? 20%? 25%? 333%? Cost $75, sold at a gain of 10%? 30%? 66%? 25%? Cost 36 cents, sold at a gain of 121% ? 331%? 125%?

5. Find the loss in the following: Cost $64, sold at a loss of 121%? 371%? 871%? Cost $72, sold at a loss of 100% ? 66% ? 75%? Cost 50 cents, sold at a loss of 25%? 663%? 90%?

6. 25

of what number? J ? I ? Z ? Z ?

7. 25 50% of what number? 333%? 25%? 20%?

=

8. $40 20% of what number? 30%? 40%? 60%?

9. In the sale of a horse $25 was gained. Find the cost if the sale was made at a profit of 10%? 20%? 25%? 33%? 50%? 40%? 30% ?

10. A dealer gained $120 on a sale, which was at a gain of 16%. What was the cost?

11. 24 is more than what number?

12. 24 is 20% more than what number?

13. $36 is 121% more than what number?

14. A horse was sold for $150 thereby gaining 20%. What did the horse cost?

15. By selling berries at 10c per quart a grocer gains 25%. Find the cost of the berries.

16. A merchant sold potatoes at 84 cents per bushel thereby losing 121%. What did the potatoes cost per bushel?

17. An article cost $36 and sells for $48.

gained? What part is the gain of the cost price?

How much was

What per cent.?

18. I paid $6 for each of 5 chairs and sold them for the following sums: $7, $8, $9, $10 and $11. What was the gain in each case and what was the per cent. gain?

19. A dealer paid $25 for each of 4 cows and sold them for the following amounts: $30, $35, $40 and $45. What was his gain per cent. in each case?

20. Find the gain or loss per cent. in the following:

264. 1. A bill of goods cost $280 and were sold at a profit

a. Let 100% equal the cost.

b. Find the value of 1%.

c. Find the value of the given rate.

Or, Multiply the cost by the rate per cent. expressed decimally. NOTE. To find the selling price, add the gain, or subtract the loss from the cost.

2. A merchant sold goods that cost $185 at a gain of 12%, Find his gain.

3. What is the loss on goods that cost $140, and sold at a loss of 18% ?

4. I bought 170 yards of cloth at 80 cents per yard, and sold it at a gain of 35%. Find my total gain.

5. A commission merchant bought 210 bbls. of apples at $21 per bbl., and sold them for 9% less than cost. How much did he lose?

6. The loss on a bill of goods was $21.20, which was 4% of the cost.

Find the cost.