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Indigo, at 1 dollar per pound, for 5 per cent. commission ? Ans. 15 dollars.
When you give a man so much per cent for changing money, or assisting you in purchasing stock, in banks, &c. what is it called ? Ans. Brokerage.
What would a broker demand for changing 50 dollars, at 1 per cent ? Ans. 50 Cents.
J. B. W. offers to give Providence bills for Connecticut, for – per 'cent. how much must you pay him for changing 1000 dollars? Ans. 2 dols. 50 cents.
What is the making good the losses, which may happen from storms, fire, &c. called? Ans.Insurance.
What is the insurance on an East-India ship and cargo, valued at 10,000 dollars, at 10 per cent? Ans. 1000 dollars.
When interest is required on bills, notes, &c.with indorsements, what is the rule? Ans. Subtract the amount of indorsements from the amount of principal, reckoning the interest on, each from date to settlement.
add the interest to the principal at the end of one year, and find the interest of this amount for the second, and so on, what is it called? Ans. Compound Interest.
What is Compound Interest in other words? Ans. Interest on Interest,
What is the rule? Ans. Find the amount of the principal at the end of one year, then find the interest of this amount for the second and so on. How long continue to do so.? Ans. As many
times as there are years.
What will the last amount be? Ans. The answer.
How find the Compound Interest? Ans. Subtract the given sum or principal from the last amount.
Which is the most, Simple or Compound Interest? Fils. Compound,
How is this? Airs. Simple, is the interest for the principal only, Compound, is the interest for the priricipal and the interest of each year besides.
How long does it take a sum to double at Compound Interest? Ans. About 12 years.
llow long does it take a sum at Simple terest to double? Ans. About 17 years
When you borrow money of James, and give him your note on interest, and some time after you give him a new note, and pay the interest or add it to the principal, what is it called! Ans, Renewing the note.
When notes are renewed annually, and the interest added to the principal, what kind of interest is it? Ans. Compound.
DISCOUNT. What rule tells you what you ought to pay, when a sum is due at some future day, if you pay it down? Ans. Discount.
What would that sum wbich you ought to pay, be? Ans. Such a sum as if put at interest would amount
What may this sum be called? Ans. Present worth.
What make the first term in stating? Ans. The amount of 100 for the given rate and time.
What make the middle term? Ans. 100.
What do to find the discount! Ans. Subtract the present worth from the given sum; the difference is the auswer.
Ilow state this sum? You owe 500 dollars, due one year from the present time, to find how much you ought to pay to take up your note now?
EQUATION OF PAYMENTS. What is the process of finding, when a debt is payable at different times, how it may be paid without disadsantage to either party, called? Ans. Equation of Payments.
How multiply? Ans. Each payment by its time.
What divide the sum of the products by? Ans.By the whole debt.
What is the quotient? Ans. The equated time for paying the whole.
BARTER. What is the exchanging one sort of goods for another called? Ans. Barter.
How are questions in this rule answered? Ans. By the Rule of Three.
You sell 20 knives for 4 cents a piece, to Harry, and agree to take what the knives come to in marbles at 2 cents a piece; how many marbles do you get?
You borrow 20 uew marbles of John, worth six cents a piece, and lose them; how many your old onrs, which are worth no more than 4 cents a piece, ought you to give John?
LOSS AND GAIN. What is the rule which enables merchants to estimate their profit or loss, in selling gocds. and to raise or lower the price, so as to gain or lose so much per cent? Ans. Loss and Gain.
How are questions in this rule answered! Ans. By the Rule of Three.
To find what is lost or gained per cent. How ascertain the gain or loss? Ans. By Subtraction.
Then what make the first term in stating Ans. The cost.
What make the middle term? Ans. The gain or loss.
What the third term? Ans. 100.
To find how goods may be sold, to lose or gain se much per cent.
RULE. What make the first term? Ans. 100 pounds, or dollars.
What make the middle term? Ans. The cost.
What make the third term? Ans. 100 dollars or 100 pounds, with the profit added, or loss subtracted
What will the answer be? Ans. The price of sale.
FELLOWSHIP. What is the rule to settle the account of people who have been trading in company, called? Ans. Fellowship.
When the several shares are continued in trade; an equal length of time, what is it called? Ans. Siner gle Fellowship
When the shares of stock are continued in trador an unequal length of time, what is it called? Ans. Double Fellowship.
RULE. What make the first term? Ans. The whole stock.
What the middle term? Ans. The whole gain or loss.
What the third term? Ans. Each man's stock. What will the answer be? Ans. Each man's gain
By what rule is a bankrupt's estate divided among his creditors? Ans. Single Fellowship. DOUBLE FELLOWSHIP.
RULE. What is the first thing to be donel Ans. Multiply each man's stock by the time it was in trade.
What make the first term in stating? Aus. The sum of the several products.
What make the middle term? Ans. The whole gain or loss.
What make the third term? Ans. Each man's particular product.
What will the answer be? Ans. Each man's particular gain or loss.
DOUBLE RULE OF THRFE. What rule teacheth to resolve such questions as require two or more statings in simple proportion, whether direct or inverse, called? Ans. Double Rule of Three.
How many terms are there always given? Ans. 5.
For what purpose are they given? Ans. To find a sixth,
What are the three first terms? Ans. Supposition. What are the two last? Ans. Demand.
In stating the question ; what of the supposition make the first term? Ans. The principal cause of gain, loss, &c.
What of the supposition make the second term! Ans. The time, distance of place, &c.
What in the third place? Ans. The remaining term of the supposition.
Where are the terms of the demand to be placed? Ans. Under those of the same kind in the supposition.
If the blank place or term sought, fall under the third term, what is the proportion? Ans. Direct.
Which terms multiply together for a divisor? Ans. bst and 2di
Which for a dividend! Ans. The other three..
But if the blank place or term sought, fall under the first or second term, what is the proportion? Ans, Inverse.
Which terms multiply together for a divisor? Ans: 3d and 4th.
Which for a dividend? Ans. The other three.