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241. Bills with Several Discounts. The following is a common form of a bill of goods purchased from a wholesale dealer and subject to a discount series.

Binghamton, N. Y., Mareh 15, 19/ 7 Mr. R. d. Seanlan, Cortland, A.Y.

Bought of Lane & Company, Jewelers Terms: 20%, 10%

Feb. 10 8 doz. Spoons @ $14.75 $118 00 7 doj. Forks @ $4.20 29 40

$747 40 Leas 20%, 10% 4127|| $10613

EXERCISE 139

Make out bills for the following and discount them :
1. 36 doz. files at $6.25. Discounts 30%, 20%.
2. 960 yd. silk at $1.40. Discounts 25%, 10%.

3. 4 doz. pr. hinges at $4.60; 25 doz. table knives at $8.40. Discounts 20%, 10%.

4. 12 doz. locks at $4.20; 6 doz. mortise locks at $4.60. Discounts 25%, 8%.

5. 360 yd. taffeta at 98¢ ; 4 gro. pompons at $144; 3 doz. pieces braid at $20.40. Discounts 10%, 5%.

6. 60 lb. brads at 6¢ ; 200 bolts at $4.80 per C; 6 doz. knives at $7.20. Discounts 40%, 20%, 10%.

7. 480 yd. silk at $1.60; 640 yd. lawn at 22¢ ; 960 yd. taffeta at 96¢. Discounts 10%,5%, 5%

8. 2 doz. tennis rackets @ $21, 8 doz. balls @ $3, 4 doz. tennis nets @ $19.20. Discounted @ 12%, 5%, 2%.

9. } doz. rugs at $84, 750 yd. carpet @ 824, 3 doz. hassocks @ $6. Discounted @ }, *.

10. 5 doz. bottles ink @ $3, 300 lb. paper @ 30$, 2 doz. bottles mucilage at $4, 6 gro. pencils @ $2.75. Discounted @ 3%, 2%, 1%

11. 18 brass bedsteads @ $17.25; 15 woven wire mattresses @ $3.45; 3 oak sideboards @ $17.25. Discounted @d,

12. 50 M envelopes @ $2.10, 3 doz. fountain pens @ $19.50, 8 doz. bottles ink @ 344, 5 gro. erasers @ $3.38. Terms : 8% 30 da., net 60 da.

13. 75 bbl. flour at $5.23, 63 gal. molasses @ 394, 75 gal. fancy sirup at 586, 3 doz. cartons flour @ $2.64, 260 lb. coffee @ 9.654. Discounted @ 6%.

14. 8 doz. hatchets @ $10.75, 6 doz. pr. hinges @ $4.35, 5 doz. carpenter's squares @ $34.50, i gro. locks @ $42.50, 3 doz. pr. shears @ $7.50, 8 doz, files @ $6.25. Discounted @ 40%, 10%, 5%

15. 21 Ohio steers, 1226 lb. (average), @ $5.10 (per 100 lb.); 20 do. (ditto = the same), 1247 lb., @ $5.10; 20 do., 1112 lb., @ $4.95. Discounted @ 1o.

16. 20 Illinois steers, 1157 lb. (see Ex. 15), @ $4.60; 28 do., 996 lb., @ $4.12}; 20 Kentucky steers, 1230 lb., @ $4.80; 7 Indiana steers, 1078 lb., @ $4.70. Discounted @u, to

17. 75 180-pound bags Western potatoes @ $1.48, 50 150-pound do. @ $1.28, 125 168-pound do. @ $1.42, 1620 1b. Jersey potatoes in bulk @ $1.47 per 180 lb. Discounted @à, jo

242. Single Discount equal to a Series. It is often convenient to find a single discount equal to a series.

For example, find the single discount equal to the discount series 20%, 10%, and 10%.

Let the list price be represented by 100 % of the list price.

Then deducting 20% of this, or 20 % of the list price, we have

80 % of the list price. Deducting 10% of this, or

8 % of the list price, we have

72% of the list price. Deducting 10% of this, or

7.2% of the list price, we have

64.8% of the list price. Then 100% – 64.8% = 35.2%, the single discount.

EXERCISE 140

Find the single discount equal to the discount series : 1. 10%, 8%.

9. 25%, 15%, 10%. 2. 15%, 6%.

10. 25%, 20%, 10%. 3. 18%,3%.

11. 30%, 20%, 10%. 4. 14%,9%

12. 331%, 10%, 5%. 5. 20%, 10%

13. 331 %, 10%, 10%. 6. 30%, 10%

14. 163%, 10%, 10%. 7. 25%, 12%

15. 20%, 12%, 10%. 8. 10%, 10%, 10%. 16. 25%, 121%, 10%.

17. Compare the single discount equal to the series 10% and 5%, with the sum of 10% and 5% minus the product of 10% and 5%.

18. By the method suggested in Ex. 17, find the single discount equal to the series 20%, 5%.

19. How does the single discount equal to the discount series 20%, 10%, and 5%, compare with that equal to the discount series 10%, 5%, and 20% ? Prove it.

EXERCISE 141

REVIEW

1. Find the net amount of a bill for $880 subject to discounts of 21%, 5%, and 10%.

2. On a bill of $620 trade discounts of 5% and 5% are allowed. What is the net price ?

3. Find the net cost of a piano marked $450, with trade discounts of 3%, 8%, and 10%.

4. What is the list price of an article whose net cost is $6.15 after discounts of 20% and 25% are deducted ?

5. What per cent of profit will a man make by paying $17.10 for an article, with discounts of 20%, 10%, and 5% from the list price, if he sells it at the list price?

6. Furniture is bought at trade discounts of 5% and 16% from the list price, and the net cost is $518.70. Find the list price of the furniture.

7. Find the net amount of a bill of $470, the trade discounts being 20% and 5%. What single rate of discount is equivalent to these discounts ?

8. What single discount is equivalent to a discount series of 40%, 20%, 10%, and 5% ?

9. Which is the better for the purchaser, and how much better : two successive trade discounts of 25% and 10% on a bill of $500, or a single discount of 331%?

10. Which is the better for the seller, and how much better : trade discounts of 20%, 12%, and 3%, on a bill of $800, or a single discount of 314% ?

11. Which is the better for the purchaser, and how much better : trade discounts of 10%, 10%, and 10%, on a bill of $625.75, or a single discount of 27 16%?

EXERCISE 142

PROBLEMS WITHOUT NUMBERS

1. If you know the list price of some goods and the single rate of discount, how do you find the net price ?

2. If you know the list price and net price, how do you find the rate of discount?

3. If you know the net price and the rate of discount, how do you find the list price ?

4. If you know the list price and the several rates in a discount series, how do you find the net price ?

5. If you have a discount series, is it right to add the several rates to find the single rate of discount ? State the

reason.

6. If you know the several rates in a discount series, how do you find the single rate equivalent to them ?

7. If you know the several rates in a discount series, and the net price, how do you find the list price?

8. Does it make a difference in the net price if you vary the order in a discount series ? State the reason.

9. If the rate of discount is given in per cent, how can you express it as a common fraction ?

10. If the rate of discount is given as a common fraction, how can you express it as per cent ?

11. If a discount series is given in per cents, how can you express it as a single common fraction ?

12. If a discount series is given in common fractions, how can you express it as a single rate per cent ?

13. If a dealer marks some goods a certain rate above cost, and then takes off that same rate as a discount from the marked price, does he gain or lose? Why?

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