25. I directed my agent to purchase for me 30 village lots at $650 each, and to pay the expenses of examining the titles, which averaged $4.25 per lot. What did they all cost me if the agent's commission was 4%

on the price of the lots?

26. For how much must the lots be sold to give me a net profit of 20%, besides allowing the agent 5% commission for selling?

27. After a certain time a sum of money which had been at interest, had increased 181% and amounted to $3896.74. What was the sum at interest?

28. A clothier sold two suits of clothes at $72 each. On one he gained 20%, and on the other he lost 20%. Did he gain or lose on the sale and how much? How much per cent.?

29. After marking goods at an advance of 25% over cost, a merchant made an abatement of 20% from the marked price. Did he gain or lose, and how much per cent.?

30. On of my property I gained 333% and sold the rest for of the cost of the whole, receiving in payment a note due in 3 months which I got discounted at a bank at 6%. What was my gain per cent. if my property was worth $10000?

31. I sent my agent $7000 to be invested in wheat at $1.15 per bushel, allowing him a commission of 3% on the purchase. I paid for storage 2 cents per bushel per month, and 1% per month for the use of the money. After 3 months my agent sold the wheat at $1.33 per bushel, charging 2% commission for making the sale, and took in payment a note for the amount for 1 mo., which I had discounted at a bank at 9%. Did I make or lose, and how much?

32. A man wishing to sell a horse and cow, asked three times as much for the horse as the cow, but, finding no purchaser, he reduced the price of the horse 20%, and the price of the cow 10%, and sold them both for $165. What did he get for each?

33. I owe B 66% of the amount I owe A, and I owe C 40% of the amount I owe B. How much do I owe each if I owe B $80 more than I do C?

34. I bought a quantity of coffee at 281 cents per pound. Allowing the coffee to fall short 5% in weighing, and 10% of the sales to be lost through bad debts, for how much must I sell it per pound that I may make a clear gain of 20% on the cost?

35. A quantity of prints was sold at a commission of 2% and the proceeds invested in cambrics purchased at 3% commission. The commission for buying the cambrics was $126.30. How much did the prints sell for?

36. A tailor sold a suit of clothes for $46, thereby gaining 15%. He sold another for $60, and lost the same amount of money which he gained upon the first suit. What per cent. did he lose upon the last suit sold?

37. A merchant having a quantity of pork asked 331% more than it cost him, but was obliged to sell it 12 per cent. less than his asking price. If he received $7 per cwt., what was its cost?

per

38. What must be asked for apples which cost $3 bbl., that I may reduce my asking price 20%, and still gain 20% on the cost?

39. A merchant sold a consignment of blankets at 3% commission, receiving in payment a bank-note for 1 mo., which he had discounted at 6%. He then invested the proceeds in wool at 30 cents per lb., charging % commission for buying it. His commission for purchasing the wool was $45. What was the value of the consignment? How much wool did he buy?

40. A merchant sold a quantity of goods at a gain of 20%. If, however, he had purchased the goods for $60 less than he did, his gain would have been 25%. What did the goods cost?

TAXES.

CASE I.

GENERAL TAXES.

391. 1. If a person has to pay annually, for public purposes, 2% of the value of his property, estimated at $5000, how much will be his tax?

2. If I am taxed 11% on my land, houses, etc., or real estate, estimated at $20000, how much will be my tax?

3. If I am taxed 1% on the value of my movable or personal property, what is the tax on $6000?

4. My property is estimated by the assessors to be worth $40000. What will be my tax at 11%?

5. I imported 500 yards of silk, invoiced at $2 per yard. What will be the Government tax, or duty, upon it at 35%?

6. I imported 500 yards carpeting, invoiced at $2 per yard. What will be the duty at 50% of the value, or 50% ad valorem?

7. Mr. A. imported 5000 yards sheeting. What will be the duty at 4 cents per yd., or the 4 cents specific duty?

DEFINITIONS.

392. Real Estate is fixed property; as, houses, lands, tenements, etc.

393. Personal Property is movable property; as money, stocks, mortgages, cattle, etc.

394. A Tax is a sum of

money assessed upon the persons, property, income, or business of individuals for public

purposes.

395. A Property Tax is a tax on property. It is reckoned at a certain rate per cent. on the estimated or assessed value of the property.

396. A Personal Tax is a tax assessed upon the person. It is called a poll or capitation tax.

397. An Assessor is an officer appointed to estimate the taxable value of property and prepare the assessment roll.

398. An Assessment Roll is a list of the names of taxable inhabitants, and the value of each person's property.

Before taxes are assessed a complete inventory of all the taxable property must be made. If the assessment includes a poll tax, then a complete list of taxable polls must be made out.

WRITTEN EXERCISES.

399. 1. A village is to be taxed $3756 on property assessed at $854315. The number of polls at $1.50 is 350. A's property is assessed at $5000, and he pays 5 polls; B's property, at $7000, and he pays 5 polls; C's property, at $3425, and he pays 3 polls. What will be the tax on $1, and what will be the tax of each?

PROCESS.

$1.50 X 350 $525, Amount of poll tax.

$3756-$525=$3231, Amount to be levied on property. $3231÷$854315.00378, or 3 mills on $1.

100

$18.90, A's property tax.

=

$7.50, A's poll tax.

=

$26.40, A's entire tax.

$26.46, B's property tax.

$7.50, B's poll tax.

$33.96, B's entire tax.

400. A table like the following is commonly made by those who compute the taxes.

2. Find C's tax in example No. 1, using the table.

RULE.-Divide the sum to be raised, after deducting the poll tax, by the whole amount of taxable property, and the quotient will be the rate.

Multiply each man's property by the rate, and to the product add the poll tax, if any, and the sum will be the whole tax.

3. In a certain town the assessed value of property was $1250500, on which a tax was levied of $5008.125. The number of polls was 425 at $.75 each. A's property is valued at $18500; B's, at $22180; C's, at 15200. A pays 5 polls; B, 8 polls; C, 9 polls. What is the tax of each?