21. Sold goods and invested the proceeds, retaining the commissions, which were 4% on the sales and 2% on the investment. The amount invested was $8000; what was the amount of sales and of the commissions? 1. What is the cost of 8 shares stock, $100 per share, at 5 per cent premium? $800 × 185 = $840. 2. What will 12 shares stock ($50) cost, at 15% discount? and what is the discount ? 3. Bought $200 gold cost and premium? Ans. $510 cost, $90 discount. at 1% premium. What is the Ans. $201 cost, $1 premium. 4. Bought a draft on New York for $500, premium 1%. What is the cost and premium? Ans. $11 premium, $5014 cost. 5. Sold $750 uncurrent funds, at 5% discount. What was the amount of sale, and the discount? Ans. $7121 sale, 37 discount. 6. Bought 50 shares R.R. stock ($50) at 64%, and sold them at 69%. What did I gain? $50 × 50 = $2500 × = $125 gain. 7. Bought stock at 105%, and sold it at 96%. What was lost on 60 shares ($50)? Ans. $270. 8. What is the difference in the cost of a draft on New York for $5000 at 1% premium, and one on New Orleans for the same sum at 1% discount? Ans. 37. 9. Purchased per broker, 20 shares stock ($50) at 15% discount, brokerage %. What was the cost? $1000 × 85 × = 3417 = $8541. 20 10. Bought 15 bonds (face $250) at 15% discount, brokerage %; sold them at 10% premium, brokerage 1%. What was the gain? Bought 15 × 250 × 85 × 281. Sold 15 × 250 × 118 × 188. REM.-Brokerage has to be paid both on the purchase and sale ; it will increase the cost, but diminish the sales. PROBLEMS. To find the rate per cent of gain or loss. The ratio of the gain or loss reduced to hundredths, either as a common fraction or a decimal fraction, the number of hundredths will be the rate per cent. 1. Paid $2525 for a draft on New York for $2500. What percentage was the premium? 2. Bonds (face $2500) cost $2550, brokerage $371 What was the percentage of premium ? 3. Bonds (face $5000) cost $4275, brokerage $25. What per cent was the discount? 4. Received $5.40 for a note of $6; what per cent was 5. Bought gold at 5% premium, the premium alone was $15; how much gold was bought? 6. Sold bonds at 15% discount, and received $210 less than the face? What was the face value? 7. Bought bonds at 60%, sold them at 80%; brokerage in the purchase and sale 11%; the gain was $179. What was the face of the bonds? 21% is paid for brokerage, the gain is -20% - 216% = 17%. 17% = 100% 1888 = 1 = 170 × 1000 = $1000, Ans. 8. What is the face of a draft costing $3193.19, bought at a premium of 11%? $3193.1988 = $3146. 9. Bought a draft on New Orleans at 1 per cent discount for $990; what was the face of the draft? Ans. $1000. 10. Invested $6750 in stocks at 25% discount. What was the par value of the stocks? Ans. $9000. 11. Invested $6250 in stocks at 60%, and brokerage 24% on the par value. What is the par value of the stocks? Ans. $10000. 12. How much gold at 51% premium, can be bought for $2268.25 ? Ans. $2150. 13. Bought goods at 80 cts. per yard, and sold at 90 cts. per yard. What per cent did I gain? 14. Bought goods at 80 cts., and sold at 70. What per cent did I lose? 121 15. Bought goods for $1 and sold for $4. What per cent did I gain? 16. Bought goods for $4 and sold for $3. What per cent did I lose? 1 = £5% = 25%. 17. Bought goods for $5 and sold for $2. What per cent did I lose? 18. Bought for $1 and sold for 75 cts. cent did I lose? 25 = 25%. What per 19. Bought goods for $160 and sold for $180. What per cent did I gain? Insurance of property is a guarantee of a certain sum of money in case the property is lost by fire or any casualty. The contract for insurance is termed a Policy, and the sum paid annually is the Premium. |