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PROBLEM II.

In a sale of goods for $100, at 1% commission, the owner will realize $99; that is, tol of the amount of sale.

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PROBLEM III. When stocks, bonds, drafts, or currency, are purchased at a discount of 2%, the cost of $100 worth will be $98; that is, te of the face of the bond, etc.; but when they are purchased at a premium of 2%, the cost of $100 worth is $102; that is, 10% of the face.

PROBLEM IV.

In the exchange of currency, when there is a premium on the funds on hand, as that of English money to be exchanged into United States, the premium in favor of England is about 9%; it is computed as follows:

Eng. £ x 40 x 18% = $ U. S., and

$ U. S. X 6 X 18% = £ Eng.

XL that is, England gets $109 for every $100 of her money, and the United States must pay $109 of her money for $100 English money.

REM.—This is according to the old exchange value. Now, however, the exchange value of £1 is fixed at $4.86.

EXAMPLES.

1. A broker sold goods to the amount of $6000, at 2% commission, and invested the balance of the proceeds, after deducting 2% on the amount of purchase; what was the owner's portion of the sale, and what amount of goods were purchased ?

$6000 x 100 = $5880 = owner's portion of the sale. $5880 x 18% $5764.7014 = amt. of goods purchased. :: 6000 x = 6000 x 1

x 8% x1

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51

= $576414, amt. of goods purchased. REM.-Observe the difference in the ratios of the sale and purchase.

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2. What is the cost of a bond for $5000 at 5% discount, stocks whose face indicate. $2000 at 4% premium, $1000 currency at 2% discount, and $3000 gold at 8% premium ? $5000 x una

$4750 200 x 184 =

2080 1000 x

980 3000 x 188

3240

$11050 COR.—When brokerage is paid in the exchange of money, the percentage is on the amt. purchased, which, if the rate is 2%, is 10% of the funds on hand.

3. If a broker makes sales to the amount of $500, on which he receives 3%, what is his commission ?

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= $15.

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$$90 x sia 2. What is the cost of a draft for $1000 at a premium of 1% ?

201
$1000X Х = $1005.

100 200 3. What is the face of a draft at 1% premium, costing $1005 ?

XØø 200
$1$$$ x Х = $1000.

Xøøj

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4. A broker makes sales for $4325, at 2%; what is the brokerage, and what does the owner realize? 43.25 X

$86.50, commission. 43.25 x

= $4238.50, owner realized.

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5. A merchant sells to a broker $3275 uncurrent funds at 5% discount; what does he realize?

163.75 x 19
$327.5 x = $3111.25.

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6. An architect charges 11% for plans and specifications, and 21% for superintending a building, the cost of which is $10000 ; what is the architect's fees? Ans. $400.

; 7. A broker has 2% commission, and 3% for guaranteeing payment; what does he receive on sales amounting to $42325 ?

Ans. $2116.25. 8. I sent my broker $4000 to purchase goods; what amount of goods did he purchase after deducting commissions at 2% on the amount of goods ? $4000 x 18%.

For every $102 he gets $100 worth of goods.

9. Bought a draft on New York, the face of it $500 premium, 1%; what is the whole cost and the premium?

1001

401 $500 x

$501.25 = costo 100 400

500.00

Premium, $1.25 10. Sold goods to the amount of $4444, and invested the proceeds, after retaining my commissions, which were 2% on the sales, and 1% on the investment; what was the amt, of investment?

44

$4444 x x 10

X Х

98
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= $4312.

11. A man purchased of a broker 1000 dollars in gold,

a on which he pays a premium of 15%. How much cur. rency does he invest?

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12. A merchant sells to a broker $5275 uncurrent funds at 5% discount. What does he realize? %

$5275.00 $5275 x dax ato =

263.75 Discount.

$5011.25 Realizes. 13. My agent made a compromise with a debtor owing $3264, at 60%, and his fee was 5%. What did I receive?

5% on 60 = 3%; :: 3264 x Boy = 14. Paid $116.40 commission on the sales of goods, at 11%. What was the amount of sales ? and also the net proceeds ?

100
116.40 x = 116.40 x 200 = 38.80 x 200.

13 15. A tax collector receives $2430 for his collections, at 21%. What is the amount of taxes collected ?

100 $2430 x

440 x 2430 = 270 x 400.

24 16. I sent my broker $5000 to purchase goods, his charge was 2% on the amount of goods. What amount did he buy?

For $102 he bought $100 goods; .. 5000 x 10 %

17. Goods sold on commission at 21%, the consignee received $3755.40. What was the amount of sales ?

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977
ANALYSIS = 188 = 3755.40.
100

to = 3755:41.
40 = 1 = 3755.40 X 4%.

100
The ratio is 3755.40 x = 18%

18% = 48

.

971 Cancel and compute.

18. A broker sells 50 tons of hay, proceeds $862.944, brokerage 11%; how much per ton did the owner realize?

Ans. $17. 19. Sold flour at 21% commission, invested of the amount of sales in sugar at 13% commission; the balance, after deducting commissions, was $430. What was the flour sold for, and how much was invested in sugar ? The commission on sugar = $x = 1%.

1 x The whole commission on sugar and flour = 31%.

430. To

188 = 1 430 x 1200 = 500. 31% on the whole is 14% on 1; the balance is $500, which is the sales of flour; therefore, flour sold for $2000 and $1500 invested in sugar.

20. Sold goods at 4% commission, and invested the proceeds, except my commissions, in other goods at 4% commission. My commissions were $200; what was the amount of sales and also of the investment? alla = 4invested ; 101 Do

182 = commission.

= 200.
13 2600, amount of sales.

86

430

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