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BARTER.

BARTER is the exchanging of one commodity for another on such terms as may be agreed on.

EXAMPLES.

1. How many quintals of fish, at $2 per quintal, will pay for 140 hhds. of salt, at $4,70 per hhd.? Ans. 329.

2. A. buys of B. 4 hhds. of rum, containing 410 gallons, at $1,17 per gallon; and 253 lb. of coffee, at 21 cts. per lb. in part of which he pays $21 in cash, and the balance in boards, at $4 per thousand; how many feet of boards did the balance require? Ans. 127957 feet.

3. A. buys of B. 178 quintals of fish, at 25s. N. E. per quintal, also 72 quintals at 15s. 6d. and 20 bbls. of No. 1 mackerel, at $5,70. In payment B. takes $100 in cash, 179 gallons of molasses, at 3s. 8d. 120 gallons of wine at 7s. 6d. and gives 3 months credit for the remainder; but for accommodation, A. pays the balance in cash, on being allowed interest for the time at 6 per cent. per annum as discount. Required the discount and balance, and a mercantile state

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4. B. has C.'s note for 250 dols. with 6 months interest due on it, and to redeem it, C. delivers him 60 bushels of wheat at 1 dol. 25 cts. per bushel, 50 bushels of corn at 871 cts. per bushel, and the balance in staves at 30 dols. per thousand; what number of staves did B. receive?

Ans. 5550 staves, or 4 m. 6 hun. and 10 casts.

5. C. has nutmegs worth 7s. 6d. per lb. in ready money, but in barter he will have 8s.; D. has tobacco worth 9d. per lb.; how much must he rate it per lb. that his profit may be equal to C.'s? Ans. 9 d.

6. A. has tea which he barters with B. at 10d. per lb. more than it cost him, against cambric which stands B. in 10s. per yard, but he puts it at 12s. 6d.; I would know the first cost of the tea? Ans. 3s. 4d. per lb.

7. A. has 240 bushels of rye, which cost him 90 cts. per bushel; this he barters with B. at 95 cts. for wheat that stands B. in 99 cts. per bushel; how many bushels of wheat is he to receive in barter, and at what price is it to be rated, that their gains may be equal?

Ans. 2183 bushels, at 104 cts. per bushel. 8. A. and B. barter some goods-A. put his at 30 shillings, and gains 8 per cent.; B. puts his at 243 shillings, and gains at the same rate; what was the first cost of the goods? Ans. 288. and 22s. 6d. 9. A. and B. barter-A. has cloth that cost 28d. B.'s cost him 22d. and he puts it at 25d.; how high must A. put his to gain 10 per cent. more than B.? Ans. 35d.

10. C. and D. barter-C. makes of 7s., 6s. 8d.; D. makes of 7s. 6d., 7s. 3d.; who has lost most, and by how much per cent.? Ans. C. loses 13 per cent. more than D

LOSS AND GAIN

Is a rule that discovers what is gained or lost in buying or selling goods, and instructs merchants and traders to raise or fall the price of their goods so as to gain or lose so much per cent. &c.

EXAMPLES.

1. Bought a piece of broadcloth containing 53 yards, at 4 dols. 65 cents per yard, and sold at 5 dols. per yard; what is the profit on the whole?

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2. If 1 lb. of coffee cost 28 cts. and is sold for 31 cents, what is the profit on 3 bags, weighing 293 lbs. net? Ans. 8 dols. 79 cts.

3. Bought a piece of baize of 42 yds. for £4 14 6, and sold it for 2s. 6d. per yard: what is the gain or loss on the whole piece? Ans. 10s. 6d. gain.

4. A merchant bought 59 cwt. 3 qrs. 14 lbs. of iron, at 112 dols. per ton, paid freight and charges, 24 dols.: what is the gain or loss, if he sells the whole at 37s. 4d. per cwt.

Ans. 13 dols. 26 cts. gain.

5. If a gallon of wine cost 6s. 8d. and is sold for 7s. 2d. what is the gain per cent.?

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Ans. 7 per cent. gain.

If 6 8 :

Ans. 25 cents.

per

ct.?

6. When 20 per cent. loss is made on coffee, sold at 20 cts. per lb. what was the first cost? 7. At 133 cts. profit on the dollar, how much is it Ans. 13 per ct. or 13 dols. 50 cts. per 100 dols. 8. A trader sells his goods at 24d. profit on the shilling, how much is it per cent.? Ans. 20%, or £20 16 8. 9. Which is the better bargain, in purchasing fish, 178. per quintal, and 4 months credit, or 16s. 8d. cash?

Ans. They are alike. PROOF. The present worth of 17s. found by discount, is equal to 16s. 8d.; and 16s. 8d. with 4 months interest, will

amount to 178.

10. A. bought a piece of shalloon, containing 34 yards, at 3s. 4d. per yard, and sold it at 12 per cent. loss: how much did he sell it per yard? Ans. 2s. 11d.

11. Bought wine at 90 cts. per gallon: at what rate must it be sold to gain 20 per cent.? Ans. $1,08.

12. A trader bought 1 hhd. of brandy, of a certain proof, containing 115 gallons. at $1,10 per gallon: how many gallons of water must he put into it to gain $5, by selling it at $1 per gallon? Ans. 16 gals.

13. Bought 4 hhds. of wine, containing 450 gallons at $1 per gallon, and sold it at $1,20 per gallon, and gave 3 months credit: allowing the leakage of the wine, while in my possession, to be 10 gallons, I would know the gain or loss, discounting for the present worth of the debt at 6 per cent. per annum? Ans. $70,19 gain.

14. A vinter buys 596 gallons of wine, at 6s. 3d. per gallon, in ready money, and sells it immediately at 6s. 9d." gallon, payable in 3 months: how much is his gain or loss, supposing he allows the interest for the time, at 6 per cent. per annum, as discount for present payment ?

Ans. £11 17s. 8d. gained. 15. What would be the gain or loss on the aforesaid wine, supposing the discount for present payment to be made at 2 per cent. without any regard to time?

Ans. £10 17 6 gain.

16. A merchant bought a parcel of cloth, at the rate of $1 for every 2 yards, of which he sold a certain quantity at the rate of $3 for every 5 yards, and then found he had gain ed as much as 18 yards cost: how many yards did he sell? Ans. 90 yards.

17. Bought rum at $1,25 per gallon, which not proving so good as I expected, I am content to lose 18 per cent. by it: how must I sell it per gallon? Ans. $1,021.

18. A. sells a quantity of corn at $1 a bushel, and gains 20 per cent.; some time after he sold of the same, to the amount of $37,50, and gained 50 per cent. how many bushels were there in the last parcel, and at what rate did he sell it per bushel ?

Ans. 30 bushels, at $1,25 per bushel. 19. A distiller is about purchasing 10,000 gallons, of molasses, which he can have at 48 cents per gallon in ready money, or 50 cents with 2 months credit: it is required to know which is more advantageous to him, either to buy it on credit, or to borrow the money at 8 per cent. per annum to pay the cash price?

Ans. He will gain $136 by paying the cash. 20. A tobacconist buys 4 hhds. of tobacco, weighing 38 cwt. 2 qrs. 8 lb. gross, tare 94 lb. per hhd. at $9 per cwt. ready money, and sells it at 11 d. per lb. allowing tare at 14 lb. per cwt; to receive two thirds in cash, and for the remainder a note at 90 days credit his gain or loss is required, supposing the interest for the time at 6 per cent. per 360 days is allowed for discount, on turning the note into Ans. $283,80 gain. cash?

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ALLIGATION MEDIAL.

ALLIGATION MEDIAL is when the quantities and prices of several things are given, to find the mean price of the mixture compounded of those things.

RULE. As the sum of the quantities or whole composition is to their total value, so is any part of the composition to its mean price.

1. A grocer

EXAMPLES.

would mix 25 lb. of raisins, at 8 cts. per lb.,

and 35 lb. at
what is 1 lb. of this mixture worth?

10 cts. per lb., with 40 lb. at 12 cts. per lb. :

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Ans. 10 cts. 3 mills.
of gold, of 14 carats

2. A goldsmith mixes 8 lb. 5 oz. fine, with 12 lb. 8 oz. of 18 carats fine what is the fineness of this mixture? Ans. 165 carats.

3. A grocer would mix 12 cwt. of sugar, at $10 per cwt. with 3 cwt. at $83 per cwt., and 8 cwt. at $7 per cwt.: what will 5 cwt. of this mixture be worth?

4. A refiner melts 2 4 lb. of 18 carats fine make it 22 carats fine?

Ans. $44 78 cts. 2 ms. lb. of gold, of 20 carats fine, with how much alloy must be put to it to

Ans. It is not fine enough by 3

carats, so that

no alloy must be put to it, but more gold. 5. A maltster mingles 30 quarters of brown malt, at 28s. per quarter, with 46 quarters of pale, at 30s. per quarter, and 24 quarters of high-dried do. at 25s. per quarter: what is the value of 8 bushels of this mixture?

Ans. £1 88. 21d..

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