division, we have $5.85-585-01 or 0.10, that is, the gain is 10 per cent.

From the foregoing examples we are able to deduce the following principal

RULES.

I. The total gain or loss is the difference between the first cost and the selling price.

II. The first cost multiplied by 1, increased by the gain per cent., or by 1 decreased by the loss per cent., considered as a decimal, will give the selling price.

III. The whole gain or loss divided by the first cost, will give the gain or loss per cent.

6. Bought 75 pounds of coffee at 10 cents per pound. At how much per pound must I sell it so as to gain $3 on the whole? Ans. $0.14.

7. Bought 25 hogsheads of molasses, at $18 per hogshead, in Havana; paid duties, $16.30; freight, $25; cartage, $5.50; insurance, $25 25. What per cent. shall I gain, if I sell it at $28 per hogshead?

Ans. About 34 per cent. 8. If I buy broadcloth for $3.50 per yard, how much must I sell it at per yard so as to gain 25 per cent.? Ans. $4.374.

9. If I buy cloth at $3.50 per yard, how many must I sell it at per yard so as to lose 25 per cent? Ans. $2·621. 10. A person bought a city lot for $800, and sold it so as to gain 40 per cent. How much did he sell it for?

Ans. $1120.

11. A house which cost $3000 was sold for $2400,

What per cent. was lost?

12. A house which cost $2400 What per cent. was gained?

Ans. 20 per cent. was sold for $3000.

Ans. 25 per cent.

FELLOWSHIP.

124. FELLOWSHIP is the union of two or more individuals in trade, with an agreement to share the losses and profits in the ratio of the amount which each individual puts into the partnership. The money employed is called the capital stock.

The loss or gain to be shared is called the dividend.
What is Fellowship? What is the capital stock? What is the dividend?

EXAMPLES.

1. A, B, and C, enter into copartnership.

A put in

$180, B put in $240, and C put in $480. They gained $300. What is each one's part of the gain?

Make each partner's stock the numerator of a fraction, and the sum of their stock a common denominator; then multiply the whole gain or loss by each of these fractions, for each partner's share.

262

2. Five persons, A, B, C, D, and E, are to share between them $2400. A is to have; B is to have ; C is to have ; D and E are to divide the remainder in proportion to the numbers 5 and 7. How much does each one

Hence, D must receive of $500-$208.331.

E must receive of 500 291.66.

=

3. There are three horses belonging to three men, employed to draw a load of plaster a certain distance for $26.45. It is estimated that A's and B's horses do 2 of the labor; A's and C's horses; B's and C's horses 13. They are to be paid proportionally according to these estimates. What ought each man to receive?

A's and B's horses do 25.

A's and C's horses do 28

B's and C's horses do 13=13.

Adding all these fractions together, we shall obtain twice what they all do, according to the above estimate; if we take half the sum, it will give the part supposed to be done by all.

Hence, A's, B's, and C's horses do 2.

If from this fraction we subtract 3, which is B's and C's, we find for the part supposed to be done by A's horse. In the same way we find for the part done by B's horse. 2 will represent the part done by C's horse. Therefore, the parts which the three horses are supposed to do are 18, 5, 2. These fractions, having a common denominator, must be to each other as their numerators, that is, as 10, 5, 8, whose sum is 23.

Hence, A ought to have

B ought to have
Cought to have

of $26-45-$11.50.
of 26-45=

5.75.

of 26·45= 9.20.
Proof, $26-45.

4. A, B, and C, agree to contribute $365 towards building a church, which is to be at the distance of 2 miles from A, 27 miles from B, and 3 from C. They agree that their shares shall be proportional to the reciprocals of their distances from the church. What ought each to contribute?

The reciprocals of the numbers 2, 27, 31, are 1, 3, ; these reduced to a common denominator, become, 1,2. Now, we must obviously divide $365 in the proportion of these numerators; their sum is 365.

5. A person wills to his two sons and a daughter, the following sums: To the elder son $1200, to the younger son $1000, and to his daughter $600; but it is found that

his whole estate amounts to only $800. How much ought each child to receive?

{

The elder son received

$342.8574.

Ans. The younger son received 2857144.
The daughter received 171.4284.

6. Four persons, A, B, C and D together contribute $500 towards the erection of a school-house, which is located at the distance of of a mile from A's residence, † of a mile from B's, of a mile from C's, and 1 mile from D's. They contributed in the reciprocal ratio of their respective distances from the school-house. How much did each give?

A gave 1 of $500-$240.

of 500 120.

=

B

66

Ans.

125, WHEN the stock of the several partners continues in trade for unequal periods of time, the profit or loss must be apportioned with reference both to the stock and time. In such cases the fellowship is called DOUBLE FEL

LOWSHIP.

What is Double Fellowship?

EXAMPLES.

1. Three partners, A, B and C, put into trade money as follows: A put in $400 for 2 months; B put in $300 for