The following are the rates now required by the U. S. Post Office Department for money orders.

1. How much would you have to pay as a fee to send each of the following by money order: $2.75? $14.50? $.27? $40.02?

$39.99?

2. How much would you have to pay into the post office in order to send each of the above by money order?

3. What would it cost to send ten $5 mail orders? one $50 mail order? How much more would the former cost than the latter? What per cent more?

4. A man who has a bank account prefers to pay a bill of $42.50 by check rather than by a postal money order. Why?

5. Try to obtain information about express money orders and their cost if there is an express office in your town. If you can obtain their rates, find the cost of sending the amounts in example 1 by express money orders.

6. See if you can obtain rates for paying money by telegraphic money orders, and if so, find the cost of sending $50; $75; $100; and $25 to various places.

7. Try to obtain information at your post office concerning the cost of foreign postal money orders, then make up examples and find their costs to different countries.

8. Go into your local bank and ask them to explain a bank draft to you. A man wishes to send $1000 by a bank draft. If the bank charged him %% for the draft, as a fee, how much would he have to deposit with the bank to cover the total cost?

Review

1. Write a check on the Second National Bank of Mundale, N. Y., for $150, payable to William Brown and signed by Henry Doe.

2. Try a 4th trial of some standard test in a preceding chapter.

3. Make another trial of the standard test in this book which has caused you the most trouble.

4. An automobile selling for $1300 is reduced 15%. What is the price after the reduction?

5. A clothier bought 11⁄2 dozen caps @ $1.00 each and sold them for $1.50 each. What per cent of margin did he make on the cost? on the selling price?

6. The selling price of a certain article of furniture to the retailer was $70. If the manufacturer's catalogue price gave a discount of 30%, what was the catalogue price?

7. Of what whole number is 36, 3%? 48, 4%? 50, 50%? 72, 25%? 100, 200%? 200, %?

8. A man is now paying $66 a month rent for a house. This is 10% more than he was paying a year ago. How much was his monthly rent one year ago?

9. The marked price of a suit in a store window last week was $45. The new price of the same suit is $30. What rate of discount is being given?

10. Some of the longest tunnels in the world are the Hoosac, 4 miles; Loetschberg, Switzerland, 9 miles; St. Gotthard in the Alps, 9 miles; Simplon in the Alps, 11

miles; Gunnison, Colorado, 6 miles; Otira, New Zealand, 5 miles. Make bar graphs to represent these lengths.

19. 10 is what per cent less than 20?

20. 50 is what per cent more than 40?

21. If 3 bananas cost 10¢, how many can you get for 40¢? 22. If 4 eggs cost 28¢, how much for 12 eggs?

END-OF-CHAPTER TRIAL OF I. R. B. TESTS OF CHAPTER X

In this chapter you have learned that the foundation of the banking business is interest. You have had practice in some common banking customs. At the same time you have discovered how important to every one of us who deals with banks is skill in the fundamental operations of mathematics. You cannot afford to make mistakes with your own money or with any one else's funds.

Now test your skill with the End-of-Chapter Trial of the seven tests of Chapter X. Remember: out-of-school-time; improved record for each trial; 100% honor record in your work.

CHAPTER XI

EVERYDAY BUSINESS PAPERS AND ACCOUNTS

Now that we have laid the foundations of business with decimals, percentage, and interest, we are ready for more practice with other tools of business. We shall run across a new term or two, but all the work will be simply a further application of the New Mathematics which we have already learned.

Bills. Invoices. Statements. Whenever we buy without paying cash, we usually get a bill for our purchase. Merchants, contractors, and others who do business usually send out bills to their customers at stated times. Harold T. Sullivan of Milwaukee, Wis., built a garage for Benjamin Somers. After it was completed he sent out the following bill: