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11. A and B barter : A hath 145 gallons of brandy at I dol. 20 cts. per gallon ready money, but in barter he will have 1 dol. 35 cts. per gallor : B has linen at 58 cts. per yard ready money ; how must B sell his linen per yard in proportion to A's bartering price, and how many yards are equal to A's brandy?
Ans. Barter price of B's linen is 65 cts. 2m. and he must give A 300 yds. for his brandy.
12. A has 225 yds. of shalloon, at 2s. ready money per yard, which he barters with B at 2s. 5d. per yard, taking indigo at 12s. 6d. per 1b. which is worth but 10s. how much indigo will pay for the shalloon; and who gets the best bargain?
Ans. 43 lb. at barter price will pay for the shalloon, and B has the advantage in barter. Value of A's cloth, at cash price, is
£22 10 Value of 43;lb. of indigo, at 10s. per lb.
15 B gets the best bargain by £0 15
LOSS AND GAIN, IS a rule by which merchants and traders discover their profit or loss in buying and selling their goods : it also instructs them how to rise or fall in the price of their goods, 80 as to gain or lose so much per cent. or otherwise.
Questions in this rule are answered by the Rule of Three.
1. Bought a piece of cloth containing 85 yards, for 191 dols. 25 cts, and sold the same at 2 dols. 81 cts. per yard ; what is the profit upon the whole piece?
Ans. $47, 60 cts. 2. Bought 12! cwt. of rice, at 3 dols. 45 cts. a cwt. and sold it again at 4 cts. a pound; what was the whole gain ?
Ans. $12, 87 cts. 5m. 3. Bought 11 cwt. of sugar, at 6 d. per lb. but could not sell it again for any more than 21. 16s. per cwt.; did I gain or lose by my bargain
? Ans. Lost, £2 11s. 4d. 4. Bought 44 lb. of tea for 61. 12s. and sold it again for 81. 10s. 68. ; what was the profit on each pound?
Ans. 10 d.
5. Bought a hhd. of molasses containing 119 gallons, at 52 cents per gallon; paid for carting the same 1 dollar 25 cents, and by accident 9 gallons leaked out; at what rate must I sell the remainder per gallon, to gaïn 13 dollars in the whole ?
Ans. 69 cts. 2 m. +
II. To know what is gained or lost per cent. Rule.-First see what the gain or loss is by subtraction; then, As the price it cost : is to the gain or loss :: so is 1001. or $100, to the gain or loss per cent.
EXAMPLES. 1. If I buy Irish linen at 2s. per yard, and sell it again at 2s. 8d. per yard; what do I gain per cent. or in laying
out 1001. : As : 2s. 8d. :: 10ől. : £33 6s. 8d. Ans. 1
2. If I buy broadcloth at 3 dols. 44 cts. per yard, and sell i ft again at 4 dols. 30 cts. per yard : what do I gain per ct. or in laying out 100 dollars ?
$ cts. Sold for 4, 30
As 3 44 : 86 : : 100 : 25
Ans. 25 per cent. Gained per yd. 86
3. If I buy a cwt. of cotton for 34 dols. 86 cts. and sell it again at 41į cts. per lb. what do I gain or lose, and what
* cts. 1 cwt. at 41} cts. per lb. comes to 46,48
Prime cost 34,86
per cent. ?
Gained in the gross, $11,61 As 34,86 : 11,62 : : 100 : 33. Ans. 331 per cent. 4. Bought sugar at 81d. per lb. and sold it again at 41. 17s. per cwt. what did I gain per cent. ?
Ans. £25 19s. 5 d. 5. If I buy 12 hhds. of wine for 2041. and sell the same again at 141. 178. 6d. per hhd. do I gain or lose, and what
Ans. I lose 121 per cent. 6. At 1 d. profit in a shilling, how much per cent. ?
Ans, £12 108
per cent. ?
7. At 25 cts. profit in a dollar, how much per cent. ?
Ans. 25 per cent. Note.-When goods are bought or sold on credit, you must calculate (by discount) the present worth of their price, in order to find your true gain or loss, &c.
1. Bought 164 yards of broadcloth, at 14s. 6d. per yard ready money, and sold the same again for 1541. 10s. on 6 months credit; what did I gain by the whole; allowing discount at 6 per cent, a year? £. £. £.
£. As 103 : 100 : : 154 10 : 150 O present worth.
118 18 prime cost.
Gained £31 2 Answer. 2. If I buy cloth at 4 dols. 16 cts. per yard, on eight months credit, and sell it again at 3 dols. 90 cts. per yd. ready money, what do I lose per cent. allowing 6 per cent. discount on the purchase price ? Ans. 21 per cent.
per cent. ?
III. To know how a commodity must be sold, to gain or lose so much per cent.
Rule.--As 100 : is to the purchase price : : so is 1001. or 100 dollars, with the profit added, or loss subtracted : to the selling price.
EXAMPLES. 1. If I buy Irish linen at 2s. 3d. per yard; how must I sell it per yard to gain 25
As 100l. : 2s. 3d. : : 1251. to 2s. 9d. 3 qrs. Ans. 2. If I buy rum at 1 dol. 5 cts. per gallon; how must I sell it per gallon to gain 30 per cent. ?
As $100 : $1,05 : : $130 : $1,364 cts. Ans. 3. If tea cost 54 cts. per lb. ; how must it be sold per
Ib to lose 12per cent. ?
As $100 : 54 cts. : : $87, 50 cts. : 47 cts. 2 m. Ans. 4. Bought cloth at 178. 6d. per yard, which not proving so good as I expected, I am obliged to lose 15 per cent bị it; how must I sell it per yard?
Ans. 14s. 100.
5. If 11 cwt. 1 qr. 25 lb. of sugar cost 126 dols. 50 cts. how must it be sold per lb. to gain 30 per cent. ?
Ans. 12 cts. 8m. 6. Bought 90 gallons of wine at 1 dol. 20 cts. per gall. but by accident 10 gallons leaked out; at what rate must I sell the remainder per gallon to gain upon the whole prime cost, at the rate of 124 per cent.? Ans. $1, 51 cts. 8jom.
IV. When there is gained or lost per cent. to know what the commodity cost.
RULE.-As 1001. or 100 dols. with the gain per cent. added, or loss per cent. subtracted, is to the price, so is 100 to the prime cost.
EXAMPLES. 1. If a yard of cloth be sold at 14s. 7d. and there is gaiued 161. 13s. 4d. per cent. ; what did the yard cost ?
. d. d. £. As 116 13 4:14 7::100 to 12s. 6d. Ans. 2. By selling broadcloth at 3 dols. 25 cts. per yard, I Iose at the rate of 20 per cent. ; what is the prime cost of said cloth per yard ?
Ans. $4, 06 cts. 21m. 3. If 40 lb. of chocolate be sold at 25 cts. per lb. and I gain 9 per cent. ; what did the whole cost me?
Ans. $9, 17 cts. 4m. + 4. Bought 5 cwt. of sugar, and sold it again at 12 cents per lb. by which I gained at the rate of 25; per cent. ; what did the sugar cost me per cwt. ?
Ans. $10,70 cts. 9m. +
V. If by wares sold at a given rate, there is so much gained or lost per cent. to know what would be gained or lost per cent. if sold at another rate.
RULE.--As the first price : is to 1001. or 100 dols. with the profit per cent. added, or loss per cent. subtracted :: so is the other price : to the gain or loss per cent, at the other rate.
N. B. If your answer exceed 1001. or 100 dols. the excess is your gain per cent.; but if it be less than 100, that deficiency is the loss per cent.
1. If I sell cloth at 5s. per yd. and thereby gain 15 per cent. what shall I gain per cent. if I sell it at Os. per yd. 3
£ As 5 : 115 :: 6 : 138 Ans. gained 38 per cent. 2. If I retail rum at 1 dollar 50 cents per gallon, and thereby gain 25 per cent. what shall I gain or lose per ceat. if I sell it at 1 dol. 8 cts. per gallon?
$ cts. $ $ cts.
3. If I sell a cwt. of sugar for 8 dollars, and thereby lose 12 per cent. what shall I gain or lose per cent. if I sell 4 cwt. of the same sugar for 36 dollars ?
Ans. I lose only 1 per cent. 4. I sold a watch for 171. Is. 5d. and by so doing lost 15 per cent. whereas I ought in trading to have cleared 20 per cent. ; how much was it sold under its real value 3
£. £ s. d. £. £. s. d. As 85 : 17 1 5 : : 100 : 20 1 8 the prime cost. 100 : 20 1 8: : 120 : 24 20 the real value.
Sold for 17 1 5
£7 0 7 Answer.
FELLOWSHIP, IS a rule by which the accounts of several merchants or other persons trading in partnership, are so adjusted, that each may have his share of the gain, or sustain his share of the loss, in proportion to his share of the joint stock.–Also, by this Rule a bankrupt's estate may be divided among his creditors, &c.
SINGLE FELLOWSHIP, Is when the several shares of stock are continued in trade an equal term of time.
Rule.-As the whole stock is to the whole gain or loss : so is each man's particular stock, to his particular share of the gain or loss.