At 6% 6 ) 79.43 At 6% = $79.43 66.197 At 4% $52.95} 5. What is the interest of $648 at 6% for 3 years 5 months and 18 days? 3 years = 1080 days. 5 months = 150 days. 18 days. 1248 days. REM.-When the denominator is a divisor and is reduced to 10, 100, 1000, etc., it is best not to cancel further, as it is so convenient in use. 6. What is the interest of $540 from Oct. 10th, 1872, to Aug. 9th, 1875, at 6%? 2 years = 720 days. yrs. mos. daye. 9 months = 270 days. 1875 8 9 29 days. 1872 10 10 1019 2 9 29 9 $$40 x 181% = $91.71 100 ing. What is the interest of $741 at 7% for 1 year 8 months and 20 days? 20 months and 20 days at 6%? 1 year = 360 days. 20 days. $741 for 20 months = 74.10. Divide by 30 for da.. $741 for 20 days 2.47 6% 76.57 Add }, 12.764 7% = $89.337 8. What is the interest of $541.64 for 2 years 6 months and 15 days at 7%. 720 days. 6 months 180 days. 15 days. 915 days. 2 years 9. What is the interest of $640.74 from April 12th, 1864, to Feb. 22d, 1871, at 9%? yr. da. = 2160 days. 10 days. 2470 days. mo. 6 years 6000 .06 30.00 360.00 6390 1000 5390, Prin. .064 26.95 323.40 350.35 5390 10. A note was given Apr. 1st, 1872, for $6000, bearing interest from date at 6%. On the back of the note were the following credits: May 1st, 1873, $1000; June 1st, 1874, $1000; July 1st, 1875, $2000. What sum was still due August 1st, 1877? REM.—When there are partial payments on a note, and whenever the payment is greater than the interest, it is computed until the time of the payment and added to the principal, from which the payment is deducted, and the balance is then regarded as the principal of the note. When the payment is less than the interest, the interest must be computed until all the payments are greater than the interest, and then add interest and principal, and from their sum deduct the sum of all the payments, and the balance is then regarded as the principal of the note. 5740.35 .064 2370.175 28442.10 308.12275 4740.35 5048.47275 .121 Due August 1st, 1877 50 50 100 $5640.50. April 1st, 1870. 11. Six months after date I promise to pay to John Johnson or order, five thousand six hundred and forty for dollars, value received. P. PAYSON. 1870 Oct. 1st, forty For dollars. 1873 Oct. 1st, one thousand dollars. What sum is due Oct. 1st, 1875? The first payment is made when there is no interest. As the other payments do not equal the interest until Oct. 1st, 1873, the interest is computed until that time. The note is due Oct. 1st, 1870, when there is a payment which must be deducted. Interest to Oct. 1st, 1873, 3 years, 5600 x 1080 3 $5640.50 40.50 5600 Principal. 1008 Int. to 1st Oct., 1873, 6608 Amt. 1300 Sum paid “ 5308 Prin. 1st Oct., 1873. 639.96 Int. to 1st Oct., 1875. Amt. due Oct. 1st, 1875 = $5947.96 66 REM.-When interest is not inserted in the note it takes the legal rate, which is generally 6%. In all places the years and months are computed alike, but in New York and several other States, the days are in their ratio to 36) instead of 300. 1. One is what part of 100, or 1 is what per cent of 100? Ans. ito, or 1% 2. 2 is what part of 100, or 2 is what per cent of 100?. Ans. tb, or 2%. 3. 3 is what part of 100, or 3 is what per cent of 100 ? Ans. tio, or 3%. 4. 20 is what part of 100, or 20 is what per cent of 100? Ans. }, or 20%. 5. 25 is what part of 100, or 25 is what per cent of 100? Ans. 1, or 25%. 6. 50 is what part of 100, or 50 is what per cent of 100? Ans. ], or 50% 7. j is what % of 1? Ans. 331%. 8. j is what % of 1? Ans. 663%. 9. 4 is what % of 1 ? Ans. 14* 10. 4 is what % of 1? Ans. 284% 11. 5 is what per cent of 10 ? Ans. 50%. 12. 10 is what per cent of 10? Ans. 100%. 13. 3 is what per cent of 10 ? Ans. 30%14. 21 is what per cent of 10 ? Ans. 25% 15. 2 is what per cent of 10 ? Ans. 20% 16. 1 is what per cent of 10 ? Ans. 10%. 17. 4 is what per cent of 10? Ans. 5%. • |