NOTE. The price per hundred or per thousand is expressed thus C, or M. 2. What is the value of 12,500 shingles at $6.25 M? Ans. $78.12. 3. What is the cost of 7877 feet of hemlock scantling, at $3.37 M? 4. What is the cost of 17,225 bricks, at 1560 lb. of sheet lead, at $10.121 † C? Ans. $26.58. $7.75 ℗ M, and Ans. $291.44 5. A grocer sold one day 9760 pounds of wheat flour, at $4.25 C; what was the amount of the sale? Ans. $414.80. 6. Messrs. Wood & Co. burn in their store in a year 62,560 cubic feet of gas, at $4 50 M; what is their gas bill for a year? Ans. $281.52. 7. If a compositor is paid 45 cents per thousand ems, what will be receive for setting up a book of 560 pages of 1120 ems each? Ans. $282.24. 8. Mr. Barr receives for making cigars $7.50 M; what will be his profit on 43,780 cigars, if he pays $5.75 for the amount of tobacco required to make a thousand? CASE III. Ans. $76.614. 228. To find the price of 100 or 1000, the quantity and cost being given. 1. If I sell 4256 feet of boards for $62.776, what is the price M? ठ SOLUTION.-If 4256 feet cost $62.776, 1 foot will cost of $62.776, and 1000 feet will cost 1000 times of $62.776, which, dividing and removing the decimal point three places to the right, we find is $144. Hence the OPERATION. $62.7764256-$144. Rule.-Divide the cost by the quantity, and remove' the decimal point in the quotient two places to the right for price per hundred, or three places for price per thousand. 2. I paid $7.59% for 675 pickets for the fence around my garden; what was the price p C? Ans. $1.12. 3. Mr. Shirk sold 10,540 cedar rails for $550.35; what was the price C? Ans. $51. 4. If the cost of stereotyping a book of 320 pages of 850 ems each is $340, what is the cost per 1000 ems? 5. I retail envelopes at 12 cents a pack, on each pack of 24; what did they cost me CASE IV. Ans. $1.25. gaining 3 cents M? Ans. $3.75. 229. To find the cost, the quantity and the price of a ton of 2000 pounds being given. 1. At $75.45 a ton, what will be the cost of 7247 lb. of railroad iron ? SOLUTION.-Dividing $75.45, the price of a ton, by 2, we have $37.724, the price of 1000 Îb.; and proceeding as in Case II., we have $273.39 as the price of 7247 lb. OPERATION. 2)75.45 37.72 7247 273.39307 Rule.-Multiply half the price of a ton by the quantity, and remove the decimal point three places to the left. NOTE. To find the price of a ton, cost and quantity being given, divide the cost by the quantity, multiply the quotient by 2, and remove the decimal point three places to the right. 2. A farmer sold 7375 pounds of hay at $13 a ton; what did he receive for it? Ans. $49.78. 3. A porcelain manufacturer bought 5620 pounds of clay at $17.25 a ton; what did it cost him? Ans. $48.47. 4. A peddler sold to a paper-mill 1728 pounds of rags at $48 per ton; what did he receive? Ans. $41.47. 5. If 7240 pounds of bone dust cost $93.215, what is the price per ton? Ans. $25.75. 6. A coal dealer received $20.88 for 5760 pounds of Lehigh red ash coal; what was the price per ton? Ans. $7.25. 7. Shipped from Pittsburgh, on the Panhandle R. R., 34,761 pounds of pig iron @ $3.75 per ton, and 97,486 pounds of steel rails at $2.50 per ton; what was the charge? Ans. $187.03. 8. Messrs. Wilson & Co. bought 36,850 pounds of lime at $3.60 a ton, and sold it at 22 cents per hundred; what was the profit on the transaction? Ans. $16.58. BILLS AND ACCOUNTS. 230. A Bill is a written statement of goods sold, ser. vices rendered, etc., giving the place, date, names of the parties, and the price, quantity, and cost of each item. 231. An Invoice is a full statement, sent to a purchaser or agent, at the time the goods are forwarded, containing the marks, contents, and prices of each package, the charges paid, and the mode of forwarding. The terms Invoice and Bill are often used interchangeably. 232. The Footing of a bill is the amount of its items. To extend an item is to write its cost in the proper column. A bill is receipted when the person to whom it is due, or his agent, writes at the bottom of the bill "Received Payment," and signs his name. 233. An Account Current is a written statement of the business transactions between two parties for a given time. The party who owes is the Debtor; the party owed is the Creditor. 234. To Balance an Account we find the difference of the footings of the two sides and add it to the smaller side, so that the two amounts are equal. NOTES.-1. The abbreviation Dr. signifies debit or debtor; Cr., credit, or creditor; @ signifies at, and denotes the price of the unit of measure; % stands for account; for cents; No. or for number; pcs. for pieces, and 622, 183, 61, signify respectively 621, 183, 64; 3 pcs. sheeting 42, 421, 453 signifies that the pieces contain respectively 42, 42 and 45 yards. 2. Accounts current are frequently made out every month, and are then called monthly statements, and generally contain only the amounts bought at each date, bills of the several items having been furnished at the time of buying. 3. Deductions are often made in bills, sometimes from the retail price of the items, and sometimes from the amount of the bill. Deductions from the retail price are generally made to customers buying in considerable quan tities, and deductions from the amount are made for cash payments or pay. ments within a short specified time, the prices in such bills being mostly wholesale. The symbol %, meaning hundredth, is frequently used; thus, less 6% means 6 hundredths deducted. Rule I.-In making out a BILL, extend the several items and take their sum. Rule II.-In an AccoUNT, find the difference between the debit and credit amounts. |