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This, as well as brokerage and insurance, is computed in the same manner as for even pounds, and for , ž, or $, as in the last Case.

2

EXAMPLES. (7) My factor writes me word, that he has bought goods,

upon my account, to the value of 4741. 14s. 6d. I

demand to know what his commission comes to at 34 (8) Suppose I allow my correspondent 24 per cent for his

commission; what is his demand on the disbursement of 7421. 12s. 6d.?

per cent.

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BROKERAGE IS an allowance or fee paid to a person called a broker, for assisting others in buying or disposing of their goods; and in the city of London they are not to act without a licence from the lord mayor.

Case 3. To find the brokerage for any sum, at any rate under 11. per cent.

RULE. Divide the given sum by 100, and it will give the interest at 1l. per cent. which interest you must take parts from, with the rate per cent, and add them together; the sum will be the brokerage required.

EXAMPLES, (9) What is the brokerage of 4201. 12s. 6d. at 6s. 4d. per

cent. ? (10) Suppose I employ a broker, who sells goods for me, to

the value of locol., what may he demand for brokerage, it being at 4s. 6d. per

cent. ? (11) Suppose a broker disposes of goods for me, to the amount

of 5401. 10s. what comes the brokerage to, at 13s. 10d.

per cent. ? (12) What is the brokerage of 24741. 158. at 19s. 9 d. per

cent.?

INSURANCE

IS a contract or agreement whereby one or more persons, called insurers, &c. oblige themselves to answer for the loss or damage of ships, houses, goods, &c. by storms, fires, &c, in consideration of a premium paid by the proprietors of the thing injured.

To find the insurance of any sum at any rate under 11. proceed as in the last Case ; if above, as in Case 1.

EXAMPLES. (13) Suppose I insure for 14601. at 2s. 6d.

per cent. per ann. what does the insurance come to? 14) What is the insurance of 24601. at 101. 15s. per cent.?

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which I made an insurance at 6 per cent. What

does it come to? (16) What is the insurance of an East-India ship and cargo,

valued at 74061. 178. 6d. at 154 per cent. ?

PURCHASING OF STOCKS. STOCKS are the public funds of the nation, the shares of which being transferrable from one person to another, occasions that extensive business called Stock-jobbing.

RULE. Multiply the sum to be purchased, by the excess of the rate per cent. above 100; the product divide by 100, as before, and the quotient added to the given sum will give the required purchase.

if under par, i.e. if under 100 per cent. proceed as in Case 2.

EXAMPLES. (17) What is the purchase of 4001. South-Sea stock, at 1201.

5s. per cent. ? (18) What is the purchase of 4701, bank stock, at 874 per

cent.? (19) What is the purchase of 2470l. 178. 10d. bank annuities,

at 1031 per cent. ?

(20) What is the purchase of 8761. India stock, at 114 per

cent. ?

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Case 4. When the interest is for }, }, or 1, of a year, or any number of years besides.

RULE.

Find the interest for the years, as in Case 1, then for 5, 5, or $, take parts from the interest of one year; i, e. for }, take one-fourth part of the said interest; for ļ, take onehalf; and for $, take the compound parts of , that is, a half for }, then half of that for 1, which, added to the interest for years (if any), the sum will be the interest required.

EXAMPLES. (21) What is the interest of 4271. 10s. for four months, at 4

per cent. per annum ? (22) What is the interest of 2461. 12s. 6d. for 14 year at 5

per cent. per annum ? (23) Lent 2091 18s. upon a mortgage, to receive interest for

the same, at 45 per cent. per annum, till it was paid off, which was not till the end of 4 years after. Now

I should be glad to know what is due to me. (24) A gentleman dying left his daughter 6041. 178. 6d. for

her fortune, to be paid her when at age, with interest, at 5 per cent. per annum. Now she came of age in 3 years 9 months after her father's death. What is the amount of her fortune ? that, is, What is she to receive in all, principal and interest.

Case 5. When the interest required is for any number of weeks.

RULE. 1. Find the interest of the given sum for a year, as in Case 1.

2. Say, as 52 weeks : are to that interest of the given sum :: so are the weeks given : to the interest required. Or you may divide the given weeks into aliquot parts of a year, or 52 weeks,

EXAMPLES. (25) What is the interest of 4001. 15s. for 4 weeks at 4 per

cent. per annum? (26) What is the amount of 6001. for 26 weeks, at 34 per

cent, per annum? (27) What is the interest of 7401. for 4 years and 42 weeks,

at 5 per cent. per aunum? (28) What is the amount of 2001. for 5 years and 50 weeks,

at 45 per cent. per annum?

Case 6. To find the interest of

any sun,

for
any

number of days.

RULE. 1. Say, As 365 days; are to the interest of the given sum for a year :: so are the days given : to the interest required.

2. When convenient, divide the days into aliquot parts of a year, or 355. Or,

3. Reduce the principal into pence, which multiply by the number of days, and that product by the rate per cent for a dividend: then multiply 365 (the days in a year) by 199 for a divisor, by which divide the dividend, and the quotient will be the answer in pence, which bring to pounds. Or, 4. Multiply the given sum by the number of days, and

100 X 305 divide the product by 7300 (viz.- -) the quotient will give the interest at 5 per cent, and for a higher or lower rate, take aliquot parts for a difference, which add or subtract accordingly.

5

A TABLE of Days for any given time less than a

Year.

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037/6, 961201157 187/218 249279310|3401 71 7341061 971127158188219250280311|341 8 839107) 98128 159 189 220 251 2813121342

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