3. What will 9 yards of cloth cost at £1 4s 6d per yard? 9 yards at £1£9 yard at £1= 10s 9 yards at 4s =£1 16s yard at 4s = 2s = 4s 6d 3d 9 yards at 6d Total cost £11 12s 9d. 4. What is the cost of 1000 quills at cent per quill? Ans. $2,50cts. 5. What is the cost of 900 lead pencils at 6 cents apiece? Ans. $54,00. 6. What is the cost of 2016. of soap at 63cts. per pound? Ans. $1,35. 7. What is the cost of 140 yards of tape at 24cts. per yard? Ans. $3,15. per 8. What is the cost of 438 bushels of apples at 314cts. bushel? Ans. $136,87 9. What is the cost of 51 tons of hay at $12 per ton? Ans. $618. 10. What is the cost of 231 yards of linen at 75cts. per yard? Ans. $173,25. 11. What is the cost of 144lb. of rice at 3d per pound? Ans. £2 2s. 12. What is the cost of 14 yards of cloth, at $43 per yard? Ans. $67,683. 13. What will 13176. of cheese come to at 1s 2d per pound? Ans. £7 12s 10d. 14. What will 144 dozen of eggs come to at 1s 3d per dozen? Ans. £9. 15. What will 6gal. 1qt. 1pt. 2gi. of wine come to at 5s 4d per quart. Ans. £6 17s 4d. 16. What will 51 acres of land be worth at £3 2s 2d Ans. £158 10s 6d. 17. What will 15cwt. 2qr. 17lb. of sugar come to at 1s per pound? 18. What will 4E. E. 3qr. 2na. of broadcloth cost at £2 3s 8d per yard? Ans. £12 16s 6d. per acre? Ans. £87 13s. 19. What will 1hhd. 2gal. 3qt. 1pt. 1gi. of molasses come to at 12 cts. per quart? Ans. $32,95%20. What will be the cost of 27bu. 3pk. 6qt. 1pt. of wheat, at 10s 2d 3far per bushel? Ans. £14 5s 11d 063 far. 64 SIMPLE INTEREST. § 152. Interest is an allowance made for the use of money that is borrowed. For example, if I borrow $100 of Mr. Wilson, for one year, and agree to pay him $6 for the use of it, the $6 is called the interest of $100 for one year, and at the end of the time Mr. Wilson should receive back his $100 together with the $6 interest, making the sum of $106. The money on which interest is paid, is called the Principal. The money paid for the use of the principal is called the Interest. The principal and interest taken together are called the Amount. In the above example, $100 is the principal, $ 6 is the interest, and $106 is the amount. The interest of $100 for one year, determines the rate of interest, or rate per cent. The term per cent, means by the hundred. In the example above the rate of interest is 6 per cent, or $6 for the hundred. Had $8 been paid for the use of the $100, the rate of interest would have been 8 per cent; or had $3 only been paid, the rate of interest would have been 3 per cent. The legal interest is the interest established by law. In the New England States, and indeed in most of the other states, the legal interest is 6 per cent per annum; that is, 6 per cent by the year. In New York, however, it is 7 and in Louisiana 8 per cent. Q. What is Interest? What is the money called on which interest is paid? What is the money called which is paid for the use of the principal? What is the amount? What determines the rate of interest? What is the meaning of per cent? What is legal interest? What is meant by per annum? How much is the interest per annum in most of the states? What is it in New York? CASE 1. 153. To find the interest on any given principal for one or more years. EXAMPLES. OPERATION. $ $ 100 6: 650 Ans. : 1. What is the interest of $650 for one year at 6 per cent? It is plain, that $100 is to $6, its interest for one year, as $650 to its interest for the same time. The fourth term is found by multiplying the second and, third terms together and dividing by the first § 140. 6 100)3900 Ans. $39,00. 2. What is the interest on $950 for four years at 7 per cent per annum? I. Multiply the principal by the rate of interest, and divide the product by 100: the quotient will be the interest for one year. II. When the number of years exceeds one, multiply the interest for one year by the number of years: the product will be the interest for that number of years. 3. What is the interest on $3675 for three years, at 7 per cent per annum ? Ans. $771,75. 4. What is the interest on $459 for five years at 8 per cent per annum? Ans. $183,60. 5. What is the interest of $327,45 for one year at 6 per cent per annum ? We first multiply the given sum $327,45 by the rate of interest, 6 per cent, leaving two places for decimals or cents at the right hand. Then to divide by 100 we remove the decimal point two places to the left, leaving four places for decimals to the right hand. OPERATION. $327,45 6 100)1964,70 19,6470 Ans. 19dolls. 64cts. 7m. If the principal had contained mills, there would have been five places of decimals in the answer. Hence, we have the following RULE. I. When the principal contains dollars only, multiply by the rate of interest, and point off two places from the right hand for cents: the places on the left will express the dollars. II. When the principal contains dollars and cents, multiply as before, and strike off four places from the right hand for cents and mills. III. When the principal contains dollars cents and mills, multiply as before and strike off in the product five places from the right hand: the places to the left will be dollars. Q. When the principal is in dollars, how do you find the interest for one year? How do you find the interest for two or more years? When the principal contains dollars and cents, how do you find the interest? When the principal contains dollars cents and mills, how do you find the interest? 6. What is the interest on $375, 27cts. 3m. for two years, at 7 per cent per annum? 1 7. What is the interest on $211,26 for one year at 43 per cent per annum ? 8. What is the interest on $1576,91 for 3 years at 7 per cent ? Ans. $331,15+. 9. What is the interest on $957,08 for 6 years at 31 per cent? Ans. $200,98+. 10. What is the interest on $375,45 for 7 years at 7 per cent per annum? Ans. $183,970+. 11. What is the interest on $4049,87 for 2 years at 5 per cent per annum? Ans. $404,98+. for CASE II. § 154. To find the interest at 6 per cent per annum any number of months. At six per cent per annum, each month produces per cent on the principal; and every two months produces one per cent on the principal. Therefore, to find the interest for months we have the following RULE. Multiply the principal by half the number of months, and remove the separating point in the product two places farther to the left hand. EXAMPLES. 1. What is the interest of $327 for 8 months at 6 per |