PERCENTAGE.

Per Cent, means per hundred, and is generally expressed fractionally; thus, 5 per cent., 6 per cent., marked 5% and 6%, is expressed 160, 160, etc., or .05, .06; thus, T6 of 100 = 100 x = 5, and 8 of 100 is 6.

ráa 188 = 100%, 4 = 50%, f = 33%, * = 25%, * = 20%, 1 }

, t = 16%, o = 2%.

EXAMPLES.

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1. What is 5% of 200? 200 x = 10, Ans. What is 5% of 300 ?

Ans. 15. What is 5% of 400 ?

Ans. 20. 2. What is 5% of 245 ? 2.45 X = 12.25, Ans.

The 100 is canceled in the 245 by pointing off two places of decimals. 3. What is 6% of 300 ? 300 x la = 18, Ans. What is 6% of 400 ?

Ans. 24. What is 6% of 500 ?

Ans. 30. 4. What is 6% of 368 ? 3.68 X na = 22.08.

x

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COMMISSION, OR BROKERAGE.

The business of a commission merchant or broker is to make purchases and sales, on which he receives a percentage.

PROBLEM I. A purchase of $100 worth of goods, at 1% commission, will cost $101; that is, 18% of the amount of the purchase.

PROBLEM II.

In a sale of goods for $100, at 1% commission, the owner will realize $99; that is, te of the amount of sale.

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PROBLEM III. When stocks, bonds, drafts, or currency, are purchased at a discount of 2%, the cost of $100 worth will be $98; that is, 10% of the face of the bond, etc.; but when they are purchased at a premium of 2%, the cost of $100 worth is $102; that is, 10% of the face.

PROBLEM IV

.. In the exchange of currency, when there is a premium on the funds on hand, as that of English money to be exchanged into United States, the premium in favor of England is about 9%; it is computed as follows:

Eng. £ x 49 x 18% = $ U. S.,
x

, and

$ U. S. XL X 18% = £ Eng. that is, England gets $109 for every $100 of her money, and the United States must pay $109 of her money for $100 English money.

REM.—This is according to the old exchange value. Now, however, the exchange value of £1 is fixed at $4.86.

EXAMPLES.

1. A broker sold goods to the amount of $6000, at 2% commission, and invested the balance of the proceeds, after deducting 3% on the amount of purchase; what was the owner's portion of the sale, and what amount of goods were purchased ?

$6000 x 38 = $5880 = owner's portion of the sale.

9.86 $ $5880 x 18% = $5764.7014 = amt. of goods purchased.

= $57641, amt. of goods purchased. REM.-Observe the difference in the ratios of the sale and purchase.

a

98 10

2. What is the cost of a bond for $5000 at 5% discount, stocks whose face indicate $2000 at 4% premium, $1000 currency at 2% discount, and $3000 gold at 8% premium ? $5000 x

$4750 200 x 180

2080 109 x Bela

980 3000 x 188

3240

$11050 COR.-When brokerage is paid in the exchange of money, the percentage is on the amt. purchased, which, if the rate is 2%, is 18% of the funds on hand.

3. If a broker makes sales to the amount of $500, on which he receives 3%, what is his commission ?

$$$8 X = $15.

x mia 2. What is the cost of a draft for $1000 at a premium of 1%?

1903 201
$1$$$ x

Х = $1005.
Xøg

200 3. What is the face of a draft at 1% premium, costing $1005 ?

5

5

5

4. A broker makes sales for $4325, at 2%; what is the brokerage, and what does the owner realize?

43.25 X ha = $86.50, commission.
43.25 x = $4238.50, owner realized.

=

98

5. A merchant sells to a broker $3275 uncurrent funds at 5% discount; what does he realize ?

163.75 x 19
$327.9 x = $3111.25.
$ xd

.

6. An architect charges 11% for plans and specifications, and 21% for superintending a building, the cost of which is $10000; what is the architect's fees? Ans. $400.

7. A broker has 2% commission, and 3% for guaranteeing payment; what does he receive on sales amounting to $42325?

Ans. $2116.25. 8. I sent my broker $4000 to purchase goods; what amount of goods did he purchase after deducting commissions at 2% on the amount of goods ? $4000 x 188.

For every $102 he gets $100 worth of goods.

9. Bought a draft on New York, the face of it $500 premium, 7%; what is the whole cost and the premium?

1001

401 $500 X

$501.25 = costo 100 400

500.00

Premium, $1.25 10. Sold goods to the amount of $4444, and invested the proceeds, after retaining my commissions, which were 2% on the sales, and 1% on the investment; what was the amt. of investment?

44

$4444 X u X 18 = $4312.

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11. A man purchased of a broker 1000 dollars in gold, on which he pays a premium of 15%. How much cur. rency does he invest ?

12. A merchant sells to a broker $5275 uncurrent funds at 5% discount. What does he realize?

$5275.00 $5275 X Ba X zbo

263.75 Discount.

$5011.25 Realizes. 13. My agent made a compromise with a debtor owing

a $3264, at 60%, and his fee was 5%. What did I receive?

5% on 60 = 3%; :: 3264 x Bob 14. Paid $116.40 commission on the sales of goods, at 11%. What was the amount of sales ? and also the net proceeds ?

100 116.40 x = 116.40 x 200 = 38.80 x 200.

11 15. A tax collector receives $2430 for his collections, at 27%. What is the amount of taxes collected ?

100 $2430 x

4ge x 2430 = 270 x 400.

21 16. I sent my broker $5000 to purchase goods, his charge was 2% on the amount of goods. What amount did he buy?

For $102 he bought $100 goods; . 5000 x 18% =

17. Goods sold on commission at 21%, the consignee received $3755.40. What was the amount of sales ?

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