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11. Bought 120 bushels of oats at 50c. per bushel, and sold them for 55c. per bushel ; what was the gain on the whole, and gain per cent. ? Thus : 120 bushels.
then 120 bushels. 50c. cost per bushel. 550.
D66.00 sold for. .-60.00
D6.00 gained on the whole 120 bushels.
then 55 5c. gain on 1 bushel.
50 : 5c. :: 100
10 per cent. 12. Bought a yard of linen cloth for 37.5c. and sold it for 32c., what is the loss per cent. ?
Ans. 14.6c. per cent. 13. If I pay 25 cents per pound for butter, and purchase 550 pounds, then sell the same for 31 cents per pound, what do I gain on the whole, and how much per cent. ?
Ans. D33, and 24 per cent. 14. A. paid D225 for 200 pounds of tea, and sold it for D1.05 per pound ; did he gain or lose ? and how much, and what per cent.?
Ans. Lost D15, which is 63 per cent. 15. Bought 150 pounds of pork for D11.50, and I wish to gain D2.50 profit; how much must I sell it for per pound ?
Ans. 9c. 3m. 16. Purchased 200 pounds of tallow for D18, and sold it for D25; how much did I get per pound, and how much profit per cent. ?
Ans. 12.5c. per pound, and 39 per cent.
The prime cost and the profit or loss per cent. given, to find
what it sold for.
D100 is the first term; the prime cost is the second term ; and D100, with the gain added, or loss subtracted, is the third term ; and the quotient is the answer.
17. If a bushel of corn cost 50c., what must it be sold for to gain 25 per cent. ? Thus: 100 : 50 :: 125 : 62.5c. Ans.
18. If I purchase sheeting at 8c. per yard, at what price must it be sold to gain 25 per cent. ?
Ans. 10c. 19. At 25c. profit on a dollar, how much per cent. ?
Ans. 25 per cent. 20. If I purchase wine at D1.05 per gallon, how must I sell it to gain 30
Ans. D1.36.5. When the profit or loss per cent is given, with the selling price of
the article, to find the prime cost.
per cent. ?
L D100 with the gain per cent. added, or loss per cent. subtract
ed, is the first term ; D100 is the second term; the prime cost is the third term.
21. If by selling wheat at D5 there is 25 per cent. gained, + what is the first cost ?
Thus: 100+25=125 : 100 :: 5 : 04. Ans. If in purchasing cloth at D30 there is 10 per cent. gainded, what was the prime cost ?
Ans. D27.27.2. 23. If I sell a bushel of oats for 45c. and lose 10 per cent., required the prime cost.
Ans. 50c. 24. If I sell rye at 87.5c. and lose 12.5 per cent., how much + did it cost?
Ans. D1.00. The selling price and the gain or loss per cent. given, to find what would be the profit or loss per cent. if sold at any
The first price is the first term; the second price is the second term ; D100 with the gain percent. added or loss per cent. subtracted, is the third term; the quotient is the answer.
25. A person sold a yard of cloth for D2.23, and gained 10 per cent. ; if he had sold it for D2.75, what would have been the gain per cent. ? Thus: 2.23 : 2.75 :: 110 : D135.65-D100=353 per ct. Ans.
26. Bought a hogshead of molasses containing 119 gallons at 52c. per gallon, paid for transportation D1.21, and by accident 9 gallons leaked out; at what rate must I sell the remainder per gallon to gain D13 on the first cost?
Ans. 69.17c. 27. If I purchase 12cwt. 2qrs. of rice at D3.45 per cwt. and sell it at 4c. per pound, what is my profit? Ans. D12.87.5.
28. Bought lcwt. of cotton for D34.86 and sell it for 41.5 per pound; what do I gain or lose, and what per cent. ?
Ans. Gain D11.62, and 33.3 per cent.
29. If by selling cloth at D3 25 per yard, I lose at the rate ur 20 per cent., what is the prime cost of said cloth per yard ?
Ans. D4.06.25 30. Bought a chest of tea weighing 475lb. for D420 and sole the same for D350; how much did I lose on the pound?
Ans. 14.70. 31. Bought cloth at D1.25 per yard, which proving bad, 1 wished to sell it at a loss of 18 per cent. ; how much must I ask per yard ?
32. Bought a cow for D30 cash, and sold her for D35 at a credit of 8 months ; reckoning interest (on D35) at 6 per cent. how much did I gain ?
33. A merchant buys 158 yards of calico for which he pays 20 cents per yard ; one half is so damaged that he is obliged to sell it at a loss of 6 per cent., the remainder he sells at an advance of 19 per cent. ; how much did he gain? Ans. D2.05+
34. A tailor bought 60 yards of cloth at D4.50 per yard, and 38 yards at D2.50 per yard, and sold the whole quantity at D4.25 per yard ; did he gain or lose, and what per cent. ?
Ans. Gained D51.50, and D14.11 gained per ct. (on D100),
35. A. purchased cloth at D2.50 per yard, but being damaged he is willing to lose 171 per cent. on it; how must he sell it per yard ?
Ans. D2.06.25. 36. If I buy a bale of cotton weighing 8cwt. 20lb. at a cost of D45.55, how must it be sold per cwt. to lose 8 per cent, by it?
What do you understand by profit and loss? In what cases can you apply the several rules? When an article is purchased at a certain price, and is sold at any other price, how will you ascertain the profit or loss ? Repeat rule 1. When property is sold, to know what is gained or lost per cent., how will you proceed ? What is rule 2 ? What will you do when the prime cost and the profit or loss per cent. are given, to find what it sold for ? Repeat rule 3, and give an example in this rule. When thc profit or loss per cent. is given with the selling price of the arti. cle, to find the prime cost, what is to be done? What is rule 4 ? When the selling price and the gain or loss per cent. are given, to find what would be the profit or loss per cent. if sold at any other price what is to be done ? Repeat rule 5. Now solve the following question :
37. I sold a wateh for D50, and by so doing, lost D17 per cent., whereas in trading I ought to have cleared D20 per cent. ; how much was it sold under its real value ? Ans. D22.28.8.
PartneRSHIP, or as it is frequently termed, fellowship, is a rule used by merchants, tradesmen, and others who deal or transact business in company, or partnership, to ascertain their equitable share of profit or loss when their proportion of stock is unequal, or when the stock has been invested for a longer or shorter time ; and also by this rule the estate of an insolvent may be justly divided between his creditors, and the equitable distribution of property of every description, the assessment of ; taxes, &c., &c. The money employed is the capital stock. The gain or loss to be shared is called the dividend. The operation of the rules is proportional.
When time is not considered
The amount of stock, or whole debt, is the first term ; either of the partners' shares or sum in irade is the second term (for his share); the whole gain or loss is the third term ; and the quotient is the amount of that partner's share of the profit or loss; and so continue the statement for each partner, respectively. Proof: add the shares of the profit or loss of each of the partners together, and if the amount agrees with the sum mentioned in the question, it will be correct.
1. Divide the whole gain or loss by the whole stock, and the quotient will be the gain or loss
dollar. 2. Multiply the gain or loss per dollar by each particular stock, and the product is the proportional gain or loss required.
QUESTIONS. 1. A. and B. formed a connexion in business; À. advanced D750, B. D250; after trading together, they find their profits amount to D400; required a just division of their gain. A.
B. A. 750 / 1000 : 750 :: 400 G. S 1000 : 250 :: 400 300 a. B. 250 400
1000} 10003300000(300 A. 1000)100000(100 B. }400 Pl.
2. A. and B. purchased goods to the amoụnt of D1000; A. paid D600, and B. 0400; they gained D100; required the share of each.
Rule 2d. 600 A.
A. 600 x10=60 A.
gain D100)1000(10c. per D.
100 proof 3. A., B., C., and D., formed a partnership: A. put in D3200, B. D2100, C. D2150, and D. D550 ; on examination they find their gain to be D2500 ; what is the share of each ? Ans. A. D1000; B. 1656.25 ; C. D671.87.5 ; D. D171.87.5.
4. A., B., and C., freighted a ship with 108 tons of wine, of which A. had 48 T., B. 36 T., and C 24 T.; but in stress of weather they were obliged to throw 45 T. overboard ; how much must each sustain of the loss ? Ans. A. 20, B.15, C.10 T.
5. Three farmers, A., B., and C., occupy a farın of 350 acres, of which A. has 100 acres, B. 110 acres, C. 140 acres, for which they pay D750; what must each man pay in proportion to the land he holds ? Ans. A. D214.28.5; B. D235.71.4; C. D300.
6. Four men traded with a stock of D800, by which they gained D307; A.'s stock was D140, B.'s D260, C.'s D300; required D.'s stock, and what each man gained.
Ans. D's stock D100; A. gained D53.72.5; B. D99.77.5; C. D115.12.5; D. D38.37.5.
7. A., B., and C., traded in partnership; A. put in D140, B. D250, and C. put in 120 yards of cloth at cost price ; they gained D230, of which C. took D100 for his share of the gain ; how did C. value his cloth per yard in common stock, and what was A. and B.'s part of the gain ?
Ans. C's cloth D2.50 per yard; A. D46.66.6+; B. D83,33.3+; C. share, D. 100.
8. Three merchants trading together lost goods to the amount of D1920; suppose A.'s stock was D2880, B.'s D11520, C.'s D4800; what share of the loss must each sustam ?
Ans. A. D288; B. D1152 ; C. 1480. 9. A., B., C., and D., gain D200 in trade, of which as often as A. has D6, B. must have D10, C. D14, and D. D20; what is the share of each ? Ans. A. D24 ; B. D40; C. 156; D. D80.
10. An insolvent estate of 1/633.60 is indebted to A. D312.75, o B. D297.00, to C. D 25, to D. D0.25, to E. 00, to F. D142.50, and to G. D21.25 ; what proportion will each creditor receive ?
Ans. A. D193.51.41; B. D183.76.87 ; C. D31.09.23 ; D D0.15.41; E. D123.75; F. D88.17.18; G. D13.14.87 = D633.59.97 + proof.