BILLS OF EXCHANGE. To find the value of Bills of Exchange above par. 1. What is the value of a bill of exchange for $860, at 5 per cent. above par? Operation. What value $860 $903 Answer. 2. A, of Boston, is indebted to C, of London, £1000. How much sterling must be remitted, exchange being 50 per cent.? Answer, £1500. 3. B, of New-York, is indebted to D, of Liverpool, £650 sterling, to discharge which, he purchases a bill at 3 per cent. above par. How many dollars does he give Answer, $6360,25. for it? To find the value of Bills of Exchange below par. 1. What sum sterling money is equal to £340 6s. 4d. Massachusetts currency-exchange 40 per cent. ? Answer, £243 1s. 8d. 2. D, in Philadelphia, owes E, in London, £600 sterling, to discharge which he purchases a bill, at 3 per cent. below par. How many dollars must he give? Answer, $2588,738. Boston, 3. EXCHANGE FOR £540 8s. 9d. STERLING. At thirty days' sight, pay to TIMOTHY DICKS, or order, five hundred forty pounds, eight shillings and nine pence, value received; and place the same to the account of JAMES STRIKER. TO JOHN JOHNSON, Merchant, Liverpool. What is the value of this bill in Pennsylvania currency, exchange at 56 per cent.? 4. A, of Cork, draws upon B, of London, for £870 12s. 4d., Irish, exchange at 8 per cent. How much, sterling, will discharge this bill? 5. EXCHANGE FOR 2446 LIVRES, 6 SOLS, 4 DERNIERS. Thirty days after sight of this my second of exchange, first of same tenor and date not paid, pay to TITUS TRUE, or order, two thousand, four hundred, forty-six livres, six sols, four deniers, value received, and place the same to my account. PETER J. TUTTLE. TO TRUSTRAM CROCKER, Merchant, Paris. How much sterling is the above bill, and how much in Pennsylvania currency? 6. A merchant in Toulon is indebted to a merchant in Boston 8462 francs, 20 centimes; what is the amount in federal money? 7. A, of Albany, buys a draft on C, of Paris, of 8846 francs, 34 centimes, for $1600. What is the rate of exchange? 8. Q, of Barcelona, is indebted to P, of New-York, 925 piastres, 3 rials, 24 marvadies plate. How much, in federal money, is Q charged in P's book? Ans., $740,37. 9. C, of Ireland, remits to D, of London, £345 10s. Irish. With how much sterling must C be credited, exchange being 8 per cent.? Ans., £319 18s. 1d. 34qr. 10. A bill for 3625 pesos, 4 rials, 31 marvadies, being remitted to Cadiz, what sum to it, at 7s. 6d. per peso? New-Jersey money is equal Ans., £1359 19s. 10d. 3qr. 11. A Virginia merchant shipped tobacco to Norway, worth £1673 18s., Virginia currency. lars, at 6s. each, must he receive? How many rix dolAns., $5579,666. Amsterdam, $750. 12. A, in Philadelphia, owes B, of How many guilders is it, at 40 cts. per guilder? Answer, 1875. 13. What sum must be paid in Savannah, for an invoice of goods charged at 490 florins, 15 stivers, allowing the exchange at 40 cents per florin, and freight and duties 30 per cent.? Ans., 6255,19. 14. A merchant in Philadelphia receives of a merchant in Amsterdam an invoice of goods, amounting to 12340 florins, 19 stivers, 12 pennings. How much must be remitted, in Pennsylvania currency, to discharge the bill, at 35 per florin, and what sum in sterling, exchange at 38s. 6d. Flemish per pound sterling? Answer, £941 12s. Od. Oqrs. sterling. 15. In 16745 marks, how many dollars, allowing 33 cts. per mark? Answer, $5581,666. 16. In 2045 piastres, 9 rials plate, how many dollars? Answer, $1636,90. 17. What will 8400 arsheens of ravens duck cost, at 15 rubles for 45 arsheens, in rubles and also in federal money? Answer, 2800 rubles: $2100. 18. A, of Bordeaux, draws on B, of Liverpool, for 1400 crowns, at 55d. sterling per crown; for the value of which, B draws again on A, at 56d. sterling per crown; besides commission, of per cent., what did A gain or lose by this transaction? Answer, gained 15 crowns. 19. In $1820, how many pagodas of India? 20. In $605 how many rupees of Bengal? 21. How many dollars in 4678 tales, 8 mace, 7 candareens? 22. In 8000 aspers, how many dollars? Ans., $100. 23. A merchant in Philadelphia imported from England 700 ells of cloth, at 5 shillings sterling per ell. The cost of transportation and duty, on the whole amount, was 35 per cent., the exchange at par. For how many cents must 1 yard be sold in Philadelphia, to gain 12 per cent? Answer, 134+ cents. REDUCTION OF CURRENCIES. REDUCTION OF CURRENCIES teaches to reduce pounds, shillings, pence, &c., to federal money, and the reverse. RULE. Reduce the dollar to the fraction of a pound; and, if there be shillings, pence and farthings in the given sum, reduce them to the decimal of a pound, by Inspection, and proceed as in the Rule of Three. 1. In £63, New-England) 2. In $210, how many and Virginia currency, how pounds, New-England and Virginia currency? many dollars? Operation. How many$63 £ 21 If £ 310 Operation. How many $210 If $1 is evident that the £, then, it is If £ is $1, then the quotient of product of £3 multiplied by £1 divided by would be any number of dollars, will the number of dollars in one be the number of pounds repound, and so of any number quired. of pounds. 3. In £240 10s. Virginia, 4. In $801,66,6,+ how &c., currency, how many dol- many pounds and shillings, lars, cents and mills? New-England, &c. currency? 5. Reduce £210 15s. Vir- 6. Reduce $702,50 to Virginia, &c., currency, to fed-ginia, &c. currency. eral money. 7. What sum in federal 8. What sum in New-Engmoney is equal to £300 10s. land and Virginia currency, 6d., New-England and Vir-is equal to $1001,75? ginia currency? 9. Reduce £380 9s., North 10. Reduce $951,12,5 toN. Carolina currency, to federal Carolina currency. money. 11. Reduce £67 5s. 3d., 12. Reduce $179,36,6,+to New-Jersey currency, to fed-New-Jersey currency. eral money. 13. What sum in federal 14. What sum in Southmoney is equal to £67 5s. 3d., Carolina and Georgia curSouth-Carolina and Georgia rency is equal to $288,26,5 ? currency? 15. Reduce £102 15s. 6d. 16. Reduce $440,85,9 to South-Carolina, &c., curren-South-Carolina, &c., currency, to Federal money. cy. QUESTIONS. 1. What does Reduction of Currencies teach? 2. Rule for reducing pounds, shillings and pence to Federal Money? 3. Rule for reducing Federal Money to pounds, shillings, pence, &c.? |