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EXERCISE 151

REVIEW OF INTEREST

Given the principal, rate, and time, find the interest : 1. $250, 5%, 4 mo. 10 da. ; 8 mo. 20 da. 2. $520, 6%, 2 yr. 9 mo.; 2 yr 9 mo. 25 da. 3. $760, 5%, 4 yr. 6 mo.; 4 yr. 6 mo. 15 da. 4. $875, 6%, 3 yr. 7 mo.; 3 yr. 7 mo. 16 da. 5. $1250, 5%, 1 yr. 10 mo.; 1 yr. 10 mo. 5 da. . 6. $2500, 51%, 2 yr. 10 mo.; 2 yr. 10 mo. 7 da. 7. $2275, 5}%, 3 yr. 11 mo.; 3 yr. 11 mo. 2 da. 8. $3525, 4}%, 1 yr. 11 mo.; 1 yr. 11 mo. 3 da. Given the principal, rate, and time, find the amount :

9. $175, 6%, 6 mo.; 8 mo.; 1 yr. 2 mo. 10. $225, 6%, 8 mo. 3 da.; 1 yr. 8 mo. 3 da. 11. $625, 5%, 4 mo. 3 da.; 2 yr. 4 mo. 3 da. 12. $1250, 5%, 3 mo. 8 da. ; 2 yr. 3 mo. 8 da. 13. $2275, 51%, 10 mo. 14 da.; 3 yr. 10 mo. 14 da. 14. Find the interest on $275 for 3 yr. 6 mo. at 5%. 15. Find the interest on $1250 for 7 yr. 11 mo. at 6%. 16. Find the interest on $630 for 2 yr. 4 mo. 5 da. at 6%. 17. Find the interest on $345 for 2 yr. 3 mo. 3 da. at 5%18. Find the interest on $290 for 1 yr. 6 mo. 5 da. at 5%. 19. Find the interest on $350 for 1 yr. 9 mo. 15 da. at 4%. 20. Find the interest on $650 for 2 yr. 8 mo. 10 da. at 6%.

21. Find the interest on $1575 for 3 yr. 1 mo. da. at 54%; at 41% ; at 6%.

22. What is the interest on $375 from July 4, 1915, to May 1, 1918, at 6%?

Given the principal, interest, and time, find the rate : 23. $275, $27.50, 2 yr. 30. $250.50, $30.06, 2 yr. 24. $420, $50.40, 3 yr. 31. $480, $36, 1 yr. 6 mo. 25. $121.25, $9.70, 2 yr. 32. $240, $24, 2 yr. 6 mo. 26. $320.50, $57.69, 3 yr. 33. $325, $45.50, 3 yr. 6 mo. 27. $275.25, $55.05, 5 yr. 34. $240, $10.50, 1 yr. 3 mo. 28. $3500, $87.50, 10 mo. 35. $160, $19.80, 2 yr. 3 mo. 29. $220, $9.35, 1 yr. 5 mo. 36. $480, $26.60, 1 yr. 7 mo. Given the principal, interest, and rate, find the time : 37. $240, $36, 6%. 42. $280, $28, 4%. 38. $3000, $155, 2%. 43. $350, $17.50, 3%. 39. $175, $12.25, 4%. 44. $525, $47.25, 6%. 40. $600, $42.75, 5%. 45. $230, $20.70, 41%. 41. $360, $19.91, 51%. 46. $2500, $37.50, 41%. 47. How long will it take a sum to double itself at 4% ?

48. How long will it take $220, together with the interest, to amount to $253, at 6% ?

49. How long will it take $1750, together with the interest, to amount to $1968.75, at 5%?

50. For how long must $1250 be invested at 5% so that it shall amount, together with the interest, to $1281.25 ? to $1385 ? to $1416.25 ?

51. A girl had $250 invested for her, at 6%, on her birthday. When she became 21 it amounted, with interest, to $400. How old was she when it was invested ?

52. A father gave his son his promissory note for $225, due when the son became 21 years old. The rate of interest was 5%, and when the note became due the principal and interest together amounted to $303.75. How old was the son when the note was given ?

53. Which yields the better income, $1675 at 5% or $1375 at 6%? What is the difference for 2 yr. 6 mo.?

54. A man receives $2187.50 interest in 2 yr. 6 mo. on an investment of $17,500. What is the rate of interest ?

55. A man has $250 in a savings bank at 3%. He leaves the principal, but draws out the interest as it is due. How much does he draw out in four years ?

56. A man having $13,500 invested at 5% reinvests $4000 of it at 51%, $5000 of it at 31%, and leaves the rest as before. What is the annual difference in income?

57. A boy has $300 given to him the day he is 14 years old. His father invests it for him in a 5% promissory note, due on the day he is 21 years old. What is the amount on the day the note is due ?

58. A real estate dealer buys 360 acres of farm land at $30 an acre, and after keeping it 7 months sells it at an advance of $3.75 an acre. The money being worth to him 5% a year, how much does he gain by the transaction ?

59. A man having $26,750 invested in business has found that his annual profits average 18% a year. He is offered $35,000 for the business, which he can invest at 41%. If he sells out and retires, what will be his loss in income ?

60. On April 10 a coal dealer borrowed $33,250 at 5%, with which he purchased his summer's supply of coal at $4.75 a ton. He sold the coal at $5.65 a ton, the buyers paying for unloading and delivery, and paid his debt on November 16. How much did he gain?

61. On October 15 a dealer purchased $1750 worth of goods for the holiday trade on 30 days' credit. At the end of that time he gave his note for 2 months at 6% a year. He sold the goods for $2105, and paid the note when due. What per cent did he make on the original purchase price ?

EXERCISE 152

PROBLEMS WITHOUT NUMBERS

1. Given the principal, rate, and time, how do you find the interest?

2. Given the principal, rate, and interest, how do you find the time ?

3. Given the principal, time, and interest, how do you find the rate ?

4. Given the rate, time, and interest, how do you find the principal?

5. How do you find the amount of principal and interest ?

6. Given the principal, rate, and time, how do you find the amount of principal and interest ?

7. Given the amount of principal and interest, the time, and the principal, how do you find the rate ?

8. Given the amount of principal and interest, the rate, and the principal, how do you find the time?

9. How do you find the day of maturity of a promissory note ?

10. Given the date of a note, the day of maturity, the principal, and rate, how do you find the interest ?

11. How do you find how long it will take any sum of money to double itself at a given rate of interest ?

12. How do you find the rate of interest at which a given sum of money will double itself in a given time ?

13. Given the face of a note, and its amount in a given number of years, how do you find the rate of interest ?

14. Given the amount of a note for a given number of years, and the rate of interest, how do you find the face of the note ?

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A hand (4 in.) is used in measuring the height of horses ; a fathom (6 ft.) and cable length (120 fathoms) in measuring depths of water; a knot (nautical mile, 1.152 common or statute miles, or 6080.27 ft.) in measuring distances at sea. Carpenters, mechanics, and others usually write 2' 6' for 2 ft. 6 in.

Table of Square Measure

144 square inches (sq. in.) = 1 square foot (sq. ft.)

9 square feet 1 square yard (sq. yd.) 30 square yards 1 square rod (sq. rd.) 160 square rods 1 acre (A.)

640 acres = 1 square mile (sq. mi.)

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