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ft
HUOBLEMS
IN
COMMERCUL ililTtlMSTIC
I'UEI'ARKIJ FOU USE IN
BUSINESS COLLEGES
uv
t
M. S. CARL,
One op the Propiuetoiis op t ie St. Thomas Bi'sinbss
CoLLECJB, Sr. Thomas, Ont.
PUHLISHED BY
PHILLIPS & GAEL,
St. Thomas, Ont.
180L
<l. MAQINN.fiTII.
C3
PREFACE.
The author of PrrMoins in CJommorcial Aritliniotic
boliovos that the oxplanations usually found in com-
inercial t«xt-books servo rather to mystify than to
assist the pupil, that these explanations can he given
much more satisfactorily by the teacher himself, and
that a text-book on Arithmetic is, therefore, of com-
paratively little value to the student, except to provide
problems for pi\actice.
With the object, therefore, of providing the author's
own pupils with a series ot problems, free from such
explanations, this work has lx>on prepared.
i>
n-
to
I'll
1(1
n-
CONTENTS.
Common Fractions
Decimal Fractions j.2
Denominate Numbers ,-
Percentage . -
Profit and Loss n-
Trade Discount ' 94
Commission „,.
Simple Interest 29
Compound Interest u!>
Present Worth and True Discount ....".. at
Bank Discount | ' L
Partial Payments \q
Stocks and Bonds ^q
Fire Insurance. .,,
'^'^^«- •••■•^••'^^i^^^^!^^!!!!!';;;!' 49
Duties and Customs ro
Exchange I.
Simple and Compound Proportion 5f;
Storage *
Bui'iation of Payments J.q
Averaging Accounts ^3
Cash Balance ,,,.
Bankruptcy .^
Partnership . _,^
-_, . ^ <U
Practical Measurements r.-
General Problems -,'
<
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T
4
Problems in Commercial Arithmetic.
COMMON FRACTIONS.
I. Siinjtlifv
2. A mail had six farms. The fii-st containcfl 121 *.
acros; tho second H12,«, acres; the thin I U 2 ^'o acres;" the',
fourfcli lUla-^g acres; the fifth m\» acres; and the sixth 1-181 J
acres. How many acres of land had he?
n. Find the sum, dilTerence, product, and (luotient of UiA
and 12.^. **
d. If lO;] Ihs. of butter are worth m.V2h, what are 17. V
lbs. worth ?
o. A man had 17W};| bushels of oats. Ho sold lUi-
bushels to A, f)12.V bushels to B. and the rest to C. How
many more bushels did B buy than C ?
(5. A boy had jj of a lb. of candy. He gave i» of it to his
mother, and -^ of the remainder to his father. How much
had he left ?
7. What is the value of ,", of a vessel, if f,f it is worth
§878()9i« V
H I bought 12A yards of muslin at UV^ cents a yard; lii'l
yards of print at (5:^ cents a yanl; m lbs. of butter at 20!^
cents a lb. What was the total cost ?
COMMON PR ACT IONS.
a I lK)ught three loads of hay. The first load contained
17(>03 lbs., the second 19G8}| lbs., the third 187(5ijJ lbs.
How many lbs. less than three tons were there?
10. A can do a piece of work in 3 days, B in 4 days, and
C in o days. In what time can they do the work together ?
11. 2 of ^\ of a cargo was destroyed by fire, and h of S
of the remainder was damaged by water. What jmrt^of the
v/hole cargo remained uninjured ?
12. A gentleman divided '^ of a lb. of candv between his
two boys, and ^ of the remainder among his three girls
How- much more candy did each boy receive than each
13 A barrel has three faucets. If the largest is oi)ened,
the barrel will be emptied in 8 minutes; if the smallesv, only
IS opened, it will be emptied in 14 minutes, and if the (.ther
only IS opened, it will be emptied in 10 minutes. In what
time will the barrel oe emptied, if the three faucets are
( peneJ together?
14. If 18 men will consume | of a barrel of flour in G
^ays, in how many days will 16 men consume A of a
barrel? la
15. I can buy 16:| lbs. of butter for S2.«0:|, or 17J lbs. for
§2.75. Which is the cheajier butter? How much would I
save by purchasing llOJ lbs. at the cheaper price?
IB. Find a fraction equivalent to i«, , and having its
numerator 3B greater than its denominator.
17. A house and lot cost $1760; the house cost IJ times
what the lot cost What was the cost of each ?
18. If A can do a piece of work in 3;^ days, and A and B
together can do it in 2.^ days, in what time can B do it
working aione ?
COMMON t\'tA(;rio\s.
^
la Theprofitsof agarilenfortwo yoars woreSUO. Thn
profits the fir.^t year were ^ of those of tJie second What
w(>re the profits of each year ?
20. Find the L. C. M. of 1(5:^, 18^, uiid m.
21. Find the vahie of 12i cwt. +!(!:* It is. +12,'. m. of -old
at §20^ an oz. ~ o
22. I had mi and divided it equally among a number of
boys, givmg each boy U^ How many boys wore there ?
2:J. If A has ji as much money as B, wliat fraction of the
total nount has each ?
21. A, B and C own a farm. If A owns ^ of the farm,
and B owns i as much as A, what part of the farm does C
own ?
2.-). A and B being 117^ miles apart, started towards each
other, A travelling at the rate of H] miles an hour, and B
at the rate of 2^ miles an hour. How far aparl will they be
at the end of lOJ hours ?
2). A man invested ■} of his money iu bank stock, ij of
what remained in real estate, and deposited % of what still
remained in the bank. Whit part of his money had he
27. If 3 of a dozen of eggs cost [I of a dollar, what will
2 of a dozen cost ?
28. If colTee loses one-sixth in roasting, how much green
colTee must I use to obtain 2t tt,s. of roasted colToe?
29. A man travelled in one direction for 18] hours, at the
rate of 2^ miles an hour. How long will it take him to
return to the place of starting, if he travels at the rate of
'^l miles an hour V
HO. A and B have fH cents. If A has a as much as B,
how much has each ?
10
('OMMON FRACTIONS.
-vorking tcgethor y """ °™ "'"y <="' a cord;
•J2. A .starts from S<- Th
hours later B ,Urt» fro,. Wo2 , 1' s" tT "'"' """ «
rate of 2J „i,e, ^ h„,,. Who ro „■ U ft '""' "' ""'
his arrival at Wollan.1 ,".,'"" ""=y ">oot V If, «„
-urn ,our.e, at t, ™LV« : t'l" w"'^ f" "^ "" ^'^
lio overtake B y '""os an hour, where would
'^'^. A farmer had 427 acres '2 r«, j o. x.
'"■;: "' ""* - «-" «■•■•'■ Ho„. n.uo',iSr:-te^
ton ' ''■'"'* " "'" ™"'" '" ' 'on. ^28 owt of hay at SIJ a
»'- it :'::■ I :i,;» „t™'-- ■-k^.s * ,™„„.
-rousing it tho other wav. F M?^: ! ' ™™'"'i™« h.
flow. - *'"''*honnmbornf aorosintho
'^>. If A lost orie-fiffcli of k;,
t."o-fl,ths as muoh „sB ItthTT ^' """"^ *™ havo
n- a.... D has ,m how nu.eh^Jr; h": aT'' ' " ""* "»
H7. DivHo !lo cents among A B an,] c
-ve half as n™„h again af B. .Jt^Z ^^
sixLtLttr;, a,T^f''h r" "* ™'* «"«-
worth sevon^^ighths as much as B Ro """'''■,''° ™"''* "»
each? "inn as B. Ho,v much money has
•*• J '""'Sht 240 gallons of wine at «•> -.n
pai.i S2r, for freight etc It <■ Lt " gallon, and
ago, at what Price Ir "alloVr 1 1 "' " '*' "^' "^ '"ak-
net a „ro«t j^^jz^Tz:::^ x^S!:^ ^" - -
COMMON FUA(!TIONS.
11
K». I ,riark(Ml an arfcic,l(. at an a.lvanc,,. of two-fifths of the
(-.nst an.l then sc.ld it for thm-fifths of the n.ark.vl urU-r.
\\ hat fractional part of the cost did I lose ?
■H. A merchant fails owino^ §2K)(), an.l pays his crclitors
M.. (ionts on the dollar. How mucli will be h,st l,v a cred-
itor to whom threo-eighths of the debt was owing? "
4-2. A sold an article to B and gained ,^. B sold it to C
and gamed ]. C spent .$50 in repairs and sold it to D for
.>108 and gamed one-fifth. How nuich more did A pay for
the article than D? "^
m By selling cloth at S2.5() a yard. I gain one-half as
mucli as I would lose by selling it at 82.2;} a yard How
much would I lose by selling 210 yards at .^2.87^ a yard?
41. A train leavas St. Thomas at the rat., of ;-}7.V miles an
iH.ur. Forty minutes later a sec-,ond train leav'es in the
same direction at the rate of oO miles an hour. If the sc.-ond
train is delayed eight minutes at the first station, at what
•iHtance from St. Thomas will it overtake the first train?
45. A person dies and leaves ^ of his property to his wife
4 to each of his two s<ms. and the remainder to his daugh-
ter lhedaught..r died and left i^ of her legacy to her
mother, and the rest to Ix. e<iually divided betvv^een her two
brothers. The youngest son died and left his proix^rty to
his mother. What part of the property does the mother
now own V
4(i. A man hired a hoi-se for a journey fn.m A to B and
back. Half way from the place of starting, he overtook a
socon.1 man. and ^ of the distance from A he overtook a
tlurd man. The three men rode together to B, 'and then
returned to A. H the cost of the rig was $^, and each man
paid m pn^portion to the distance he rode, how much should
<^<'h })av y
12
liECJIMAL FKACTIONS.
DECIMAL FRACTIONS.
1. What is the sum of 1(>.2;U lbs., 21.17<;2 lbs., .o;H lbs
and 110.12128 lbs. ?
2. What is the rlifferGnro between 10.012 anrl l.OOiKjy
3. Multiply 8. 0(U by .012.
4. Divide. 031)251 by .1X325.
5. Reduce the following fractions to decimals: a 7 i
anfi 13|. *■ "' ""'
0. Reduce the following decimals to fractions in their
lowest terms: .0025, .201, 30.125, .0005, and .01228.
7. What is the cost of .Of)25 tons of hay, at SO. 25 a ton ?
H. Divide .75 into two parts, so that one will be .0025
more than the other.
J). A, B and C own a farm. If A owns .25 of it, and B
.2.) of the remainder, what part of the farm does own ?
10. The diflference between two numbers is .0025 If the
larger numl>er is 14.051, what is the sum of the numbers?
11. A man had $1.00, and spent. 35 of it. How much
monay had he left ?
12. If .25 of a job of work can be done in 4.0305 days in
vhat time can , 35 of it be done ?
13. Multiply the difference between .001 and 1.00 bv their
sum.
14. A man withdrew from the bank. 25 of his deposit
and then .25 of what remained. If his total withdrawals
an.ounted to $287. how much had he still remaining on
dej)osit y °
DKCIMAL FRACTION'S.
IB
lo. A gentleman bequeathe 1 . 35 of his projierty to his
wife, .25 to his son, .15 to eaoh of his two daugliters, and
the remainder, amounting to .SH7W, to an orphan asylum.
How much did each of the daughtei-s receive ?
Ki. The sum of six addends is 277.271. If four of the
addends are ^18.01)25, 22. OIB, 08.0125. and (iO.OOl. aii.l th..
dilTerenco between the other two is 21.015, what are the fifth
and sixth addends V
17. I bought 7 bags of wheat, weighing respectively
110.035. 1(50.025, 118.2, 150.21.5. 1«20. U(}. l:}0.4, and i:i2 014
lbs. . at i^L 12 a bushel. Alh.wing 7. B(J5 lbs. for the wei-ht
of the bags, what did I pay for the wheat ?
18. A added 24.025 acres to his farm, and B 12.025 acres
to his farm. It was then found that A had .()(i25 acivs more
than B. If they together have B(;0.005 acres, how nmch
had each at first ?
10. AandB are 2(](;.25 mile, aparfc, and walk towar<l
each other at the rate of 8.(J25 mile.s an hour. How far
apart will they bo at the end of 10.5 hours ?
20. I bought 400 yards of muslin as follows: .0(}25 of the
purchase at 0.25 cents a yard, and the remainder at 8 75
cents a yard. Find the average cost per yard.
21. A man paid. 825 of a debt, and found that he still
owed §1()8. How much did he owe at fii-st '?
22. I purchased an invoice of goods, and disposed of 125
of It at one sale, and .25 of the remainder at a second sale.
v\ hat part of the invoice remained unsold ?
23 Divide 82.0145 by 21G. 125 to six decimal places; also
divide 1^ by 2.5()25 to five decimal placas.
24. A man sold. 0125 of his f.arm. and then sold . 125 of
what remained. What part of his farm had he left ? What
part did ho sell ?
?::m
''' (I
14
J>IO<;iMAI. I'UACnoNs.
.orphan asyluui. H.- fh,.,. ... J i f "'"'"'^ ^'^ ""
01 his thrcH' sons. VVImf * >■ i ■
v> riat piuf ol luH riH.noy Imd lie left ?
,).>-, TT ^'•"'•"»y.OJ„, I shotiM have <livul(,rl ],v
.U2o. How much too i^rmt wan ,„y .uiswcr y ^
27. Tho oircunf.a-m,..,. of u u-h..,.| i. 7H.J(i i,„.,ho. Ho-r
many revolutions will it u.a)<.. in lOl n.ilos y '
2H. Th. .innunf.n.nr., of u wl„u,! is :UlI<i tirm^s tho
:r;n«,r' "■ ^•■•'""" - --*"
2!.. A man wulk„l a .Ih,,,.,„v „f 75 „,i|.H. „t th„ ,.^^, „..
.™ hour. H„w l„n« wa, h„ i„ «„i„« a,„l r„t„rnins V
«». A niai, |,ai.i .(lilli", „f a .|,.l,t, „v,tv .lav nntn ,1
wMe..ountwas,>aM. H .any w.^ ^^.^t ^^
32. A man .,an walk }8,25 nM-|(« in .02;-. of 121. Kl ,lays of
10 hours oa,.,h. How far can 1... walk in H hours ?
Ha The pro.luct of two numhern in .mmi2r>. One of the
immbei-s is .025. What i< tU,. - .i , ^'"^^ ^"«
oonviio-. * ''''"'^' "'"nhery Reduce
•<m-il2o t<, a commrm fraction in its lowest terms.
0(')^;i^'"^r'"^ '"•"" ^''""'"'' '^ ^■*'- l"-'"ltK-,tof.025and
• 00.) than their (luotient ?
So. A borr„w„l «17o..^, ,,,„„ „, ,„„, ,
fc pr„K.pal wa» ,», bo a,M„| tl,„ ,„.,, y,J, ,« „, ^ ,„m
thw produced the »,«..„„d year, „„d ."iw ;, the sum th™
DENOMINATE NIIMHERS.
lo
DENOMINATE NUMBERS.
1. Add £10 8.. (52d.. £1 7h. GJd., £12 (5s. 7d.. £;j 4s «>3d
and £7 4s. o(L "* ' '
2 A man bought 13 reams of paper, at 81.80 a ream, and
sole It at the rate of sheets for 5 cents. How mucli did he
make ?
3. What is the cost IHO feet of wowl at S2.40 a cord ?
4. A man worked from 12 o'clock, Monday noon, to 12
mmutes past 3, Tuesday aftemo,m, and received in payment
one-thn-<i of a cent a minute. How much did he receive ?
5. A grocer sold 4 gal. 1 qt. 1 pt. of syrup daily for 7
days. If the syrup was sold at 45 cents a gallon, how
mucih did he receive ?
6. A man walked 1 mile 20 yards 2 feet inches. If
he took 4274 steps, how many inches did he step each time ?
7. What is the total cost of 4750 lbs. of coal at $3 00 a
ton, 4230 lbs. at $5.20 a ton, and 1700 lbs/ at $t a ton ?
8. What is the total cost of 1700 lbs. of wheat at 90 cents
a bushel, 1400 lbs. of oats at 30 cents a bushel, and 1720
lbs. of barley at 40 cents a bushel ?
9. A wheel is 2 ft. in. in circumference. How many
revolutions will it make in going 1 mile ?
10. How much wheat will a man require to sow a field
Qontaining 12^ acres, if he sows 1 bu. 1 gal. 1 qrt 1 pt. to
the acre ?
11. I bought 1 ton 220 lbs. of hay at $6 a ton, and paid
for it '" . .r. . T f
there ?
m eggs at 10 cents a dozen. How many eggs
were
16
DEXOMFXATK XI'MHEUS.
n
1 1
K'. A man divMe-l 82 arms of lairl o.,ualIv among his
boys, givnig oach boy 5 «(-. 58 rods 10 yds. lOH i„. H„vv
many l)oys wore thoi'c ?
17. I bo,ight a gross of }x>ns for 80 ronts. an.l sold them
at the rate of 8 pens for 2 cents. How mucdi did I make ?
IH. A man bought It gals, of milk at 14 cents a gal.,
and added a pint of water to each gal. If he sold the milk
at ;).V cents a quart, how much did he make V
1J>. A man (^an walk 1 mile 8 rods G ft. in 1 ho,ir 10 min
How far can he walk in 2 hours 20 minutes ?
20. Reduce §9(5 to £ s. d.. and €7 8.. <i,l. to dollars and
cents.
21. How many bottles, each holding 1 pt. 1 gi., will l)e
miuired to empty a cask containing 88 gal. I <|t.'l >ri of
wine y I o •
22. A ring 18 carats fine weighs 18 pwt. Makino- i,f)
allowance for alloy, what is it worth, if pure gold is worth
820 an nx '?
28. What is the time in days from Dec. 12, 1880, to .Tan.
1.1883; also the time in minutes from 20 minutes' past 12*
Monday noon, to 8 minut-s to seven, Wednevlav morn-
ing ?
24. A note drawn Tan. 1.5, 1892, at 90 days, was paid
Mar. 1. Making no allowance for days of grace, find how
long before due the note was paid.
25. The capacity of a certain mill is 48 bbls. of flour a
day. If each bbl. holds 190 lbs. of flour, and each bushel
of wheat makes 42 lbs. of flour, how many bushels of wheat
will the mill use in H days ? .
26. Find the number of acres in a farm five-eigliths of
a mile long by J a mile wide.
PERfEXTAOE.
17
PERCENTAGE.
1. A man »i)ent §3(54.00 for a lot, and 25 per cent, more
than that sum for a house. How much did he pay for
both '? "^ -^
2. A meroliant bought 8(J0 lbs. of tea at 37ie. a lb. , and
paid 10 per (^ent. of the purchase money down.^ How much
did he still owe ?
3. A farm crmtains 1G80 acres. 12 per cent, of it is
planted with corn, 10 7^ of the remainder with beans, and
33^ per cent of what still remained with potatoes. How
many acres of potatoes were there ?
4. A testator died leaving 12i per cent, of his proiierty to
his eldest son, l(i;^ 7^ to each of his three daughters, and the
remamder to be divided equally between the other two sons.
If the youngest son received .S275i more than the eldest,
how much did each of the daughters receive ?
o. A farmer owned 680 acres of land, and sold 42 acres.
What per cent, of his original farm had he left ?
<i. I depositel in the bank .^340, and still had S120 left.
What per cent, of my money did I deposit ?
7. A liquor dealer mixed 2(5 gals, of water with 91 gals, of
whiskey. What per cent, ot the mixture was water ?
a In a carbain battle 3(5:) men wore killed, and there still
remained 2440 men. What per cent, of the army was
killed '?
9. In a certain town 40 per cent, of the total population
wen. Frenr-li. 25 percent, of the remainder Spainards, and
what remained natives. If there were 24(]0 more natives
than Spainards, how many French were there ?
18
I'KKCKNTACJK.
10 Thna.HotMof al.ankn,pt firm am.mnt to «no, .-„,
and their li.U.ilituM to A^isr.o wi.nf . [ '^'l-J-X'.
U. Tho population of n n-ty imToas..! K. ,««• ront for
three consooutiv. yoa,., ar.l then nun.l.ro-l :Ul,M winJ
was the populatior, at th. h..n„ni„. of tho iirst year/
12. A house ai, 1 lot ,.,Ht Smo. The house ensf 91 .
cent, rnoro than the lo. What was the .!Zf::::^y' '""'
la A UKin s.K^nt ^-m.in) for a ho.-se an.l l>ug.^y. p.vin-^
10 /„ less f.>r the horse than for the buggv. How nu ^ 1
ho pay for each ? ^' ^"^ " ''''
14. The sales of a firm inereasel 20 ^/^, the first year 25
/the secon.l, and 82 7. the third year. What wen thc'r
^ta^^es for the thn. yea., if their third year's sales ^Z
thaiiO. What-/, of A's money is O's?
18. If coiroo tae, V2 7. in roasting, how n,uoh gmm mir™
mmt, I „«, to obtain I KW lbs. „f roaster! oolTee ?
,.lenr;it!T ' "*'""''■'' --y '"^ ">e h„r*, and in.-
made 81, ,„„re than A, what did A „ay for the ar
I'KRCKNrAOK.
lit
IXT
21. A iiuiu pai.l mi a month for l)oar<l. gl2 for clothes,
and *H for iiK-iiiontals, an-l was th(>n (.nahl.xl to savo AU a
month. What por cent, of his wag.s <li.l lu, ,,av for
clothes ?
'22. I sold an article at a i)rolit of 40 ,,(>r cent, oji sidling
pnca What i)or cent of the cost did I make ?
2a The sali^ of a firm increased 20 ]x^r cent, tlie first
year, ir,;^ jK>r cent, the seccmd year, and decreased 10 jjcr
<'ent the third year. The total" sah^s of the thre.> years
amounted to SlU'.OO. What were their sale, for 'each
year V
21. If MO i)er cent of A's monev equals 20 percent of
B's, an.l A has mr, less than B, how nmch monev has
each ?
2.'.. A father and son together hired a man to do a j)iece
of work. th(! agre(unent lieing that the fatlier was to pay 20
l)er cent, more than the soti. On the comi)letion of the jr.b
It was found that the father liad j^aid *11 and the son m.
How much should the father pay the son ?
2(5. A young man's salary increased HO per cent, every
year; his exix)nses each year were HO per cent, of his salary;
and at the end of 8 years he had saved )5!720.9(). Find his
salary for the thii-d y(>ar.
27. A has 20 ^/^ more money than R If B earns §-"),
how much must A earn so that he mav still have 20
®/o more than B?
28. In a certain school there were 20 ©'^ more pupils
in the junior than the senior class. Five pupils were pro-
mote!, and there were then 20 per cent, less pupils in the
.iunior class than in the senior. How many pupils were
there in each class at first ?
29. A man lost 40 o/^ of his money, and then lost .$10
more than 40 per cent, of what he had left. If his total
20
VEUrKSTMiE.
?!
l'".l .'UH, „t H„t , '" '' •" ° '"""■ "'"" "■ "■.«• ..",,.1,
y«- >' t,„. i,,:;^: ;.„::,;:;;:;:' *•;'■";» '"»'•
year. „.,„., was tl. ,« ,„,„„ a, ' « .'I rT ' ""'
yoar. 'Hfeuirnii- ,,( the first
haseacli? '"*'" '^^"fi" A. iiow nmdi
•i:-^. A man wltblnnv 2*) ' ,,f i,;. i . ,
ir the .ui^e :l: r if::;;;; 'ry'r''^ ' '''''''''■
bank ? "'"•'^ ^^^'^ hf. ivmainin- in
-hould I have pai.l ? ^ *"' '"'"'''• "'•^^- "'"^x
»'^- If anunilxM' I)e increased 8 «/o nn.l +»,
l>rodnoofl be increa-^^erl 8 «/ H ' ^"^ '''"'' ^^^^^
the n.nnher. ' '^"^ "'^''"'^ ^^'''^ ^^ 17J9j>. Find
ii<). A spt>culatf)r rained '>()<>/„ o.. fi
">ve.st,„„„t, a„,| lostlo p. ,;„t : ™ ""■-*'"■"«■ "f I.-
wt profit. „,,,, SI,),)) wi , , , , ■'<""'"""«■• »•"! W''
1-1 1.. 1... 10 „;;;;:,, .:::,!;:'", -7 ^^■■'^ '■-« -uit
a-. gai„„,l 257, on th. ,.,.,alu,i..;r ' '"" "'™'""'="'-
•^7. In a certain election A nnri n
«l.n intenderl to vote I/a ■ , ''" '"™' '■"»"■'■'■■
"'all'*,., otherwise TwouU t '"'"'™''^"".V "Poilo'l their
tl.an n. If 31 o' „, ""'^, """^ ■•«*'™'l 22 »/. more vote,
-■•™.ve,i:::rtrrthti:-i-:;r'--
If
PHOFfT AND I.OHS
tl
PROFIT AND LOSS.
1. Ibouijlit an artiHo for §11.20, and sold it at 10 jx-r
ront. })n)lit. How iimcli did I obtain for it?
2. I sold an article which cost $21 ff.r «H2.(;o. Wli it was
my jx^r cent of i)rofit V
•J. A man sold a house and lot lor S'ilOo, jjainin" 20 */o
on sellin- price. What per ceur,. i .-ofit did lie make on tlio
• cost ?
I A speculator sold 300 bushels of wheat for $2r>{, thei-o-
by makin- a profit of 10°/o on co.> . What was the cost
ix>r bushed ?
o. By soiling a horse for 8300 I lost s2t. What jier vont.
of cost did I lone?
0. A merchant sold an article for ijsi. tlion-bv making
10«/ooucost. For what shouM he h;. ve sold it to make
20 o/o on cost ?
7. I bought 2 houses for fKJOO each. )n the f>ne I made
a i)rofit of 20 "»/o on cost, and on the oi iier lost ID *»/o of
cost. Find my net gain.
a A gentleman sold an article at 21 «»/o refit, and there-
by gained S7. 20. What did he obtain for t e article ?
9. A stationer bought 7 reams of paper a S3. 00 a ream,
and sold it at the rate of (i sheets for 5 cents. What was
his per cent, of profit ?
10. A man sold 40 bushels of oats for $13, and by so
doing lost ()0 cents. What was the cost per I ashel ?
11. A merchant lost 20 per cent, of a cargo .f goods, and
sold the remainder at a profit of 30"/o. Did he gain or
lose ?
.'w
22
PROFIT AND LOSS.
f
12. 1 of my sales are on credit. If 10 jw cent, of the
accounts prove worthless, at what i^er cent, advance on cost
must I mark goods in order to net a profit of 25 7^ ?
IB. A man sold two horses for $210 each. He gained 25
7„ on the one, and lost 20 7„ on the other. Did he gain or
lose, and if so, how much ?
14. I i-eceived from Toronto a bill of goods amounting to
8180, freight, etc., mA7 additional. What must I sell
them for to net a profit of 107^ on selling price ?
15. A speculator bought two horses for the same price
each. He soM one at a profit of .S5 °/^ . and the other at a
loss of 287^. If his net gain was .f2l.70, what did he
obtain for each horse ?
10. A sold an article to B at a gain of 10 "/^ , B sold it to
C at a gain of 15 "/^ , and C sold it at a loss of 12 7„ . If C
obtained S278.80 more for the article than A paid for it,
how much did it cost B ?
^^ 17. What must he the asking price of cloth which cost
SB a yard, in order that I can throw off 10 7, of marked
price and still gain 25 7„ on the cost ?
18. I sold ^ of a consignment for J of cost of whole.
What was my per cent, of profit '?
19. A grocer bought sugar at ?8 a cwt. Supposing i 7,
to be lost in handling, how many lbs. must he give for $1
in order to make a profit of 12^ "/o on cost ?
20. If a house increase in value 10*»/o the first year,
15 «»/o the second, and 25 °/^ the third year, and is "^then
worth $BG43.20, what was the value at the beginning of the
first year ?
the
sells
21. A man bought sugar at 3J cts. a lb., and sold it at
• i of 18 lbs. for a dollar. By using a false weight he
oz. for a lb. What was his per cent, of profit ?
PROFIT AND LOSa
23
22. I sold an article for ^1().20, an.l by so floing lost $2.80.
What i)er cent of the cost did I lose V
23. At what ixir cent, above cost must a man mark goods
so that he can throw olT 25 <>/^ of the marked price and still
gain 25 °/^ on cost ?
24. ^What per cent, is lost by marking goods at a profit
of 20 "/^ , and then giving a dis^count of 20 °; '>
25. A man sold ^ of a quantity f.f goods for '^ of the cost
of the whole. Find his gain or loss ijer cent.
2(). A man sold two houses for 610(J0 each. On the one
he ^gained 20 7„ of the cost, and on the other he lost
20 °/^ of coat. Find his net gain or loss.
27. A man bought a bbl. of coal oil containing 3(; gals,
for S7.20. If 4 gals, be lost by leakage, for how much a
gal. must he sell the remainder to net a profit of 25°/^ on
the cost of the whole ?
^^28. By selling an article for 89.77^ a merchant makes
o 7„ more than he would by selling it for $9.:-55. Find the
cost.
29. A merchant bought whiskey at $1.20 a gal. If he
adds one quart of water to each gal. of whiskey, for how
much a pint must he sell the mixture to make a profit of
100 o/„ ?
30. A man marks his gootls at 25 -/^ profit, and then
gives a discount of 10 «»/^ on the marked price. What per
cent, profit d(x^s he make? How much would he make on
an article marked at (JO cts. V
31. A merchant has two kinds of tea which cost him 35
cts. and 20 cts. resix^ctively. If he mixes the tea in the
pi-oportion of 3 lbs. of the dearer tea to '2 lbs. of the che,q|>or
tea,^ and sells the mixture at 35 cts. a lb., what jier cent,
profit does he make ?
-il
24
TRADE DISCOUNT.
TRADE DISCOUNT.
Find the not selling price :
Invoice Price. Discount Off.
1. $040
2. 175
a 150
10, 10, 5
20, 10, 10
^ 2, 1
Invoice Price. Discount Oil'
4. .SlOO.oO
5. 140.25
0. 180.75
10.
o, 5
5, 5
. 20, 10, 5
7. What single discount on the gross co?t is equivalent
to discounts thereon of 20 % and 10 °/^ ?
8. What single discount on the gross cost is equivalent to
discounts thereon of 25 *>/o , 20 "/o , and 10 «»/o ?
9. At what price must goods be marked to net $8.55 after
allowing a discount of 10 «>/o and 5 *»/o ?
10. An article cost $2.40. At what price must it be
marked to net a profit of 25 ^/o , after allowing discounts of
25 ®/o and 20 '*/o ?
11. A bookseller allows a discount of 10 7^ for cash, and
allows teachers an extra discount of 10 »/„ . What is the
ordinary cash price of an article for which the teacher pavs
$1.20? ^
12. What is the difference between 20 "/„ off, and
10 °/„ and 10 % off ? What would be the difference in the
cost of an article marked at $2.00 ?
13. A merchant marks goods at a profit of m^ o/^ , and
then allows a discount of 5 »/„ . What "/o profit does he
make ?
14. A dealer mixes 1 (luart of water with every gallon of
whiskey. If the whiskey costs him .*1.2U a gallon, at what
Wico. iwr pint must he mark it to allow discounts of
TRADE DISCOUNT.
25
25 «/„ and 20 ^/^ , and still make a profit of 25 *»/ on the
cost ? **
15. A merchant sold an article for $1.90, after allowing
a discount of 20 «/„ and 5 «/„ . What was the marked
price y
16. A tradesman marked an article at 10 7 above cost
and then allowed a discount of 10 7, on the marked price.'
If by so domg he lost 55 cts. , what did the article cost ?
17. A merchant allowed a discount of 10 7 and 10 7
Had he allowed a discount of 10 7, and 5 7„ , he would have
received $1. 90. How much did he receive ?
18. I sold a lot of goods for $180. I sold | of the goods
at a discount of 25 7„ and 20 7„ , ^ of them at a discount of
^o /. and 10 / , and the balance at a discount of 12i 7
What was the total discf)unt ?
19. A merchant bought 22 yds. of cloth at $1.20 a yd
He marked it at an advance of 20 »/„ on cost, and allowed
a discount of 25 "L . If he used a yard measure 'A incV^os too
short, find his net gain or Joss.
20. A man bought a barrel of coal oil, containing 85
gala, at20cts. a gal. He marked it at an advance of
.•30°/oon cost, and then allowed a discount of 10»/o. If 5
gals, be lost by leakage, find his net gain or loss.
_^21. A merchant marked an article at an advance of
20 /o on cost, and then allowed a discount of 10 «»/o and
o °/o . What was his net gain or loss per cent ? What
would be his net gain or loss on an article which cost
22 At what per cent, advance on cost must a merchant
mark goods, so that he can throw off 25 «/o of the marked
price and still make a profit of 20 «/o on cost ? If an article
cost $1. 50, at what price should it be marked ?
'}'■■
I
Jli I
111 >
26
COMMISSION.
COMMISSION.
i!: i
1. A commission merchant sold a consignment of goods
for $640.50, and charged IJ "/^ commission. What was the
commission ?
2. An agent charged $7 for selling 80 bbls. of applo« If
the apples were sold at §2.50 a bbi., v/hat was the rate' i)er
cent, of commission ?
a A commission merchant sold 80 baskets of peaches, at
7G cts. a basket. If his rate of commission was 2J '*/^ , find
the net proceeds of the sale.
4. A fruit buyer received an order to buy 250 bbls. of
apples. If he paid U. 10 a bbl. for the apples, and his rat«
of commission was 5 «/o , find the gross cost of the apples.
5. I remitted to my agent at St. Thomas $257.50, with
instructions to deduct his commission of 3 per cent., and
invest the balance in grapes at 40 cts. a basket How manv
baskets did he buy ?
H. I received $544.95 to invest in wool, after deducting all
expenses. If my rate of commission for buying is 24*»/o,
and the sum of my other charges is $2.45, what was my
Commission ?
7. How much money must I send to an agent, so that he
may purchase a house and lot for me at $(J400, and have
his commission of 1 J **/o ?
8. A commission merchant sold a consignment of pork
for $6400, and invested the balance, after deducting his
commission, in wheat. If he charged 3 «/o for selling, and
5 "/o for buying, how much did he invest in wheat ?
COMMISSIOX.
27
a An agent transmitted to his employer S15()2, as the
net proceeds of a sale. If his conxmission amounted to 838,
what was the rate i^er cent, of commission charged ?
10. An agent sold a quantity of grapes at 3J «/o commis-
sion. If he sold the grapes at 50 cts. a basket, and his
total commission was .^1.12, how many baskets did ho sell?
11. An agent received a certain sum of money, with i-i-
structions to deduct his commission of 2J«»/o, and invest
the balance in wheat. If his commission amounted to
5)^1.00, how much money did he receive?
12. A commission merchant received 87.50, with instruc-
tions to invest it in flour, after deducting his commission of
2J /o of the amount paid for the flour. What was his com-
mission ?
13 An agent soM a crmsignmont of 600 bbls. of apples
at .%2. .)0 a bbl. , on a commission of 2 °/o . After deducting
both commissions, he invested the balance in wheat, at 90
cts. a bushel If he chargecl 2p/o for buying, how many '
bushels of wheat did he buy ?
. 14. I sold a consignment of gorxis for $1120. I deducted
S40 for freight, etc., and remitted my employer $1043.00.
What rate of commission did I charge ?
15. An agent charged 2 °/„ commission on sales, and
d U on purchases. If he sold grapes, and after taking out
his proper commissions, amounting to 8175, invested the
proceeds m wheat, how much did he receive for the grapes
and pay for the wheat ?
16. A commission merchant remitted his employer $835,
after deducting UQ for commission, and 825 for other ex-
penses. What was the rate of commission ?
17. What is the cost of 150 bushels of wheat at 80 cts. a
bushel, commission 2^ °/„ additional.
28
fOMMIHHION.
agent at St IhomaR. Th. uKc.t, hcH tho gra,x.s at 2i cts.
a lb and after .lo<lucting Iuh counr.iH.si.m at Ho/ \,„i
!nu rf 'r f "^''^' ^'^^•'•' '•'""•^'^^"^ ^^- ^-'-- to h
omj^,>yer by bank draft, for which he paid 25c,ts. c^xchango
I- md the face of the draft ^^miu^t.
19. What is tlio eoHt of loO JMinhdH of whoat at 80 cts a-
hmhol commission 2J «/^ additional '/
2(). An agent sold a <'(,nHignmeni „f go,Kls for $175 if
pI^nT ^'^° 'r';-T"'""' '^"'' ^ "/» ^- guarant.4
payment, how mueb <hd h.. mndt !,{« employer ?
nft ^"f«"''<^;'^l'l'^'''"i«%",nent of too bbls. of apples
at *i a bbl., and^after dedu,,ting hin oomrnisson and res^rv-
a $2. 20 a bbl. If he charged 2 o/^ for Helling and 5 »/ j,,
buymg, how many bbls. of flonr ,lid h„ buy ?
22. I b,mght, through an ag<,nt, ,5o ,b... of t<,a at 80 cts.
t^XjlTrf '^'^"'' ' '''" '■'""""■-i"". and I paid 15
foi fnnght. ot... . for how n.uch ,H,r lb. must I .sell the tc.a to
lot :rT f T^'r "^ •'"^"■" ""^»^^' ^^^^ ^
w /o ot sales for bad debts V °
23. I bought, through an agent, 100 bbls. r.f sugar each
contanung 225 lbs., at «8.50 a bbl., ar.d paid 2 7 commis
^on and US for freight, e.,. How u.any'll., shidlX
or one dollar, xn order that I „.ay „.ake a profif of
10 /^ on the entire outlay V
24. The gross cost of a purchase is «821, which includes
the commission $12, an.l freight m What was the rate
per cent of commission ?
25. An agent remitted to hi« principal $m, as his net
pnx,^s of a consignme.it. m. charges for commission
COMMISSION.
29
If
26. An agont roceivo.1 mi tc, invest in flour after d,.-
ductmg his commission of 4 ^/o , 2 ots. a bbl. for drayage,
and 8 oO for freight and other exi>enHes. If he paid ^l^xi
a bbL for the flour, how many bbls. did he buy ?
27. An agent sold a consignment of t(K) hams each
weighmg 20 lbs., at . cts. a ,b. He charged H o/^ .'.mmt
sion, d^ /, for guaranteeing payment, and reserved S2<) for
sf.>rage, ami $12 for freight advanced. He ren.itted the
he paid 7o cts. What was the face of the order ? What
price per lb. did the hams net the employer ?
SIMPLE INTEREST.
(Year. .300 days.)
What is the interest at G o/^ per annum on :
'2'Z-^'':!f'T f i- ^125.25 for 10 day.
2.
a
4.
5.
(5.
7.
8.
480.00
128.60
820. 16
660.25
160.60
940.00
260.00
81
" 66
" 128
" B12
" 77
" 117
" 44
1(
10.
11.
12.
IH.
14.
15.
16.
410.20
620.18
860.75
620.20
76.40
812.25
680.48
22
18
56
26
76
24
96
u
What is the interest on 6 7„ per annum on :
17. .$620.40 from Sept 1, 1884, to Nov. 15
18. 460.60 >• Jan. 1.5, 1889, to April l'
19. 460.25 '. April 1. 1889. to Sept. 27*
f. ^!12.40 ^^ Jan. 10, 1888, to July 1
21. 480.20 u Sept. 1, 188 ,, .. .Tarf 16,'
1885 y
i8tK) y
1889 y
1888 y
1890 y
;■,
30
SIMPLE INTEREST.
22.
23.
21
2;").
2().
27.
28.
2ft.
no.
()20.00
480.00
()20.40
520.17
2().2ri
l(i0.28
7()0.4()
120.20
()70.40
It
Juno 1. 188!», to May 1, 1890?
Sept. 14, 1890. to Jan. 1, 1891?
Apr. 1. 18i)l, to Dec. 12, 1891?
July 1.5, 1891, to Aug. 1, 1891?
Sept. 9, 18S)0. to July 4, 189i ?
Mar. 1. 1887, to Feb. 12, 1888?
Feb. 1, 1888. to July 12. 1888?
Mar. 4, 1889. to Sept. 1. 1890?
Sept. 12, 1888, to Aug. 11, 188i» ?
HI. At what rate i)er annum will $*)20 yield $3.72 in 27
daj^s ?
32. In what time will JJ840 prrKluoe $20.37 interest, if
loaned at 9 7- ^ler annum ?
33. What principal will yield §19.01 in 180 days, at
5 7„ ?
34. What principal will amount to $481.40 in (>() days, at
5 7„ ?
35. I borrowed $960.20 on Mar. 1st, 1889, on my note
bearing interest at 8 7^ per annum. How much should I
pay Feb. 12. 1890? (Use exact days.)
36. I borrowed $760 on my note at 90 days, bearing in-
terest at the rate of 8 °/^ per annum, and immediately
loaned $460 for 90 days at 7 7o interest, and the remainder
for the same time at 10 7^ • How much did I gain or lose
by the transaction ? (Use days of grace. )
37. On May 5 I borrow^^i $<J50 on my note, bearing in-
terest at the rate of 10 "/^ per annum. When the note
became due I paid S66<n79. When did the note ma-
ture ?
38. I bought a house and lot for $840, and receive $15 a
month rent for it. If tlie taxes, insurance, etc., amount to
$75, what rate of interest do I receive on mj' money ?
SIMPLE INTEKEMT.
B9. By renting a house for $12^ a month I make 8
81
})er
7it?" 0^'' r^"^.! ^"'''' ""■"' '' '"^^ "^ '"""^y 'l'^ut)le itself at
41. On Jan. 15, 1891, I borrowed $1300 at (J 7, per an
num. When the note l)ecame due I paid «1320.15 When
did the note mature '?
«2.04 on 90 days' credit, or at $2.00 a bbl. cash. Which is
the best offer if money is worth 12 «/„ per annum v
money ,, ^^rth 8 «/„ ^^ annum? If money is worth
■^^ °/o ver annum ?
43 A buys a horse from B for $1880, and agrees to pay
lor It m three equal payments, payable in 1, 2 and 3
months respectively, the notes to bear interest at the rate of
•-> /o per annum. Find the total amount paid. (Use days
of grace.) -^
44. What fraction is the principal of the interest on a
note drawn for 3 years at 7^ «/„ per annum ?
45. A note bearing interest at the rate of 7i °/ per an-
num amounts to $325 in 4 years. Find the face of the
note.
4(5. A person borrowed a sum of money for 3 years. For
the iirst year he was to pay 4 "/o , for the second year 5 o/o
and for the third year H o/, . The total amount of interest
and pnncipal was $828. What was the amount borrowed' ?
47 I bought 3G0 bushels of wheat at 90 J cts. a bushel
payable in 90 days. I immediately sold the wheat at 90
cts^ a bushel, and loaned the money for 90 days at the rate
of 8 /o per annum. How much did I gain by the trans-
Q-Ctioii r
82
SIMPLE INTERKST.
48. I loaned 85 W to a morchant, at the rate of % per
annum, the agreement btnng that the interest was to be
added to the principal at the end of each year. How much
did I owe at the end of the third year ?
49. On April Ist I gave my note for MHO, bearing inter-
est at the rate of 8 % per annum, and payable in 90 days.
When the note became due I paid ^100 and gave a new
note for the balance and interest at ihe same rate per cent ,
and payable in (JO days. How nrch did I owe wlien the
second note became due ? (Use dayf of grace. )
COMPOUND INTEREST.
Find the Compound Interest :
Rate
Principal, per Annimi, Time,
1. $7500
2. $4750.
3. SSOOO.
4. $4500.
5. Sl()50.
6. 8 620.
7. $ 254.
8. $ 145.
9. $ 600.
10. $ 260. ,
11. $ 225..
12. .1! .B60..
.«%.... 2 yrs.
.«%.... IJ "
.7%. ...3 "
.6%....! "
10%.... 2 "
. 4%....2 "
. •^%....3 "
.«%....!
. 8%. ...2
10%. ...4
. '>%
. fi%
u
u
o
'■ 10
Interest Payable
Annually.
Semi- Annually.
Annually.
3 mos. Quarterly.
*' ' * Semi-Annually.
9 " .Quarterly.
Annually.
2 mos. lOdys., Quarterly.
lf> " Quarterly.
8 " .... Quarterly.
" Quarterly.
" Semi- Annually'.
.7
9
8
10
13. What is the amount due April 1st, 1891, on a note
fr,r $560, drawn Sept 12, 1890, ;ind bearing interest at the
rate of 6 % per annum, interest payable quarterly ?
:i l
COMPOirXlJ I.VTEKEST.
83
U Find the interest en a note for «(i20, ciato<l April 15.
18.X), and paid St,pt 18, 1891, the rate of interest bein^ 8 y
IK^r annum, and payable semi-annually, no previ.ms pay-
men t8 having been made. ' "^
la I deposit^l «1200 in a savings bank, and reeeivod
^Wol^v annum, payable c,uarterly. and compoun.led if not
withdrawn. What amount was to my ered/t at the end o
1 year and 9 mos. ?
IH. A certain savings bank pays 5 % interest, added semi-
annually. H.,w much must I deposit t<, prrnluce me «1U00
at the end of 2^ years '?
17. A banker loans money at the rate of 10 % per annum.
How much will SKK) pnxhxce him at the en.l of a year if he
re-loans the principal and interest every two months/
18. What sum invested for 3 years, at the rate of 10 7
per annum, will produce $2500, interest added .piarterly.
19. Find the interest on 81450 for 2 years 1 ma 10 days,
at the rate of 7^ % per ..nnum, interest added quarterly.
20. What is the difference between the simple and com-
pound interest on «1250 for 3 years, coniix^unded annually ? •
2^:7^^\^J '^"'" J^'^'^""^™ i« eciuivalent to interest at
the rate of 10 % per annum, payable quarterly '?
r.w/?n'?''' *'""" ""'*' "" "^"^ ''^ money double itself at the
rate ot JO ^ ^^r annum, compounded yearly ?
23. I borrowed «7500 for two years, at the rate of 4 °/ per
annum compounde<l yearly, and immediately loaned" the
money for two years, at the rate of 4J % per annum, simple
interest What did I gain or lose by the transaction ?
'24 I borrowed a sum of money on my note, bearing in-
terest at the rate of 20 % per annum, compounded annufily.
A the end of the second year I paid 8348 as principal and
interest. How much did I borrow ?
S"
111
m
VmiVUVSl) IXTERKST.
25. A broker loan.xl Jjfj:, f,,,- H months, and rec^oivod i^".
intorcHt Ho then loanwl the !»H0 for another H months at
the same raf<> of int^-ivst. He then h)ane.l th(> pro^-nnls of
the sec«.nfl noU. for another i\ months at the same mU* of
iuUu-est, and finally he h.aned the pr(K:(M...is of the third note
for H nionths as In^fore. How nmcli .lid he rin-eive at the
end (.f the yeai', and what jx-r cent, ix-r annum tlid lie
realize on his orii^'ina! investment ?
—*>♦♦••'-«-
PRESENT WORTH AND TRUE DISCOUNT.
.«%
0/
10=/
\
Find present worth and true diseoant :
1 .^'""r"|; ''''>»«• Rate per Annum.
2. $ 281.17 5(J - ['.'.'.['.'/.[ "
B. 9 585. 75 225 * '
4. f 28i.9() ! '5 mo. 12 •'
5. * IfJfi.oO H •■ 20 "
*^- '?l'^l-7H I yr. 2 mo. lOdavs ({a
7. .f 230.H5 1-3 •' 15 -'
8. S 141.H1{....!''"'''"2 '■ (i •' 2U •• *''""!.....({%
9.^ I can buy ai)ples at $2.10 a bb].. payable in 3 nios.. or
at .S2.20 a bbl., payable in 8 mos. Which is the l)ett«r
bargain, if money is worth 8 % por annum ?
10. I owe A $250, payable in 1 month. i250. payable in 2
months, and $250. payable in 3 months. Find the present
worth of the whole bill, money l)eing worth 10% per annum.
11. I bought a farm for $12000, payable in four quarterly
instalments of $30(K) each. I immediately sold the farm foV
$1200. })ayable in months. Find my present ?ain. mimov
btMug worth 10 % jier annum.
I'RKSRXT WORTH AN[, TRl'i: I,is(„rXT. 3ft
nt tho mto of ., ^ ,„.r annum, is $22. What in thn su.n ?
VX A ..ity Wrows «(100(X). payable in 1 ,MmaI annual
paymonts of pnnoipa, and in..,., ,,,, ,,, ^L. . ;I
'mmt, money Unn- worth 5% per annum,
|1. O.i Mar. 1st, 1891, l borrowe,! **iOO, an.l gave niv
"oto at .0 days, >..anng interest at the rat^^ /h 7 " r
annun. F.nd the present worth of the note on Apr i fa
money then being worth 10 % p,., annum. ' '
lo. On April lo. 1891, I borrowed .^800, an.l gave mv
"ote at 2 numths. Wring interest at the ra^ of 1.)^^.^
-• annun. Find the present worth of the debt 45 dav^
Mj rnntunty. nmr.ey then being wo.th 8% per an-
I'i. On Sept 12, 18,-K), I borrowed ^JOO, and gave my
"oteat mo., bearing inU^rest at the rate of 10 % ,x3r an-
num Th^rt^n days afterwanis I paid the present w.^Zf
the note. If the note was discounted at the rate of 8 7 per
annum, how much did I j.ay ? '^ ^
17. (h. .Tan. l.st, 1891. I ]x>ught a horse for «120 on mv
the note, If money ,s worth 7 % jw annum.
Pi,'lti?tr''''r*^''""""' ''" •^''^•*^ for one year is .$14.40.
J'lnd the true discount on the same sum for 8 months.
T nee months a towards I paid the present worth of the
bill. How much drl I pay, if money is worth (>% j^r annum ?
20. On Sept 5. 189L I gave my note, Wring interest at
the rate of 10 % ^r annum, at 8 mc.. . for m,^ I paM the
present worth of the note on Sept 12. How much les, th „,!
the luce of the not^ did I pay. if money was then worth 12
% ix?r annum V
■I
III
36
BANK DISCOUNT.
BANK DISCOUNT.
(Use exact days. Year, 3G0 clays.)
In the following problems find :
(a). When each note becomes due.
(b). The unexpirerl time in days when the note is dis-
counted.
(c). The present worth by bank discount,
(d). The pi-esent worth by time discount.
1. $275. fK). i St. Thomas, Sept. lat, 1891.
Sixty days after date, I promise to pay .Tohn N. Carl or
order, Four Hundred and Fifty Dollars, value received.
Discounted Sept. 14. 1891, at 8 %. ^'''- ^"'^^«E«S-
2. $275.00. St. Catharines, Jan. 21st, 1889.
Three months after date, I promise to pay George Brown
or order, at the Bank of Commerce, here. Two Hundred and
Seventy-five Dollars, value received.
Discounted Mar. 1st, 1889. at (5 °/.
^- *^^00.00. London. Sept. 12, 1890.
Four months after date, I promise to pay W. A. Phillips
or order, at my office, here. Five Hundi^d Dollars, value
'^^!^'^- , M. S. CARL.
Discounted. Nov. 12, 1890, at 10 %.
4. m-o.m. St. Thomas, Nov. 12, 1890.
Ten days after date, I promise to pay John Smith, or
order, One Hundred and Seventy-five i^<\i Dollars, value
^^^^^^^- James Ferguson.
Discounted. Nov. 15. 1890, at 9 %.
Franklin Moore.
BANK DISCOUNT.
37
dis-
. or
m.
.nd
1)8,
ue
or
Lie
o. *37o0 00. T^^„,^^
ordt' T t' 'r ''^' ^ ^'°"^^ *° P^^ «-r^« Brown, or
sIm% t^ ':?^r ' ^"' "' ^""^^^' h-^' Three Thou-
sand Seven Hundred and Fifty Dollars, value received.
Discounted, Nov. 22, 1891, at 7J %. Wm. Johnson.
a.S2570.00. Hamilton, Dec. 3, 1887.
Nmety days after date, I promise to pay Herbert Swindel
or oi^er, at my office, here, Two Thousand Five Hundred
and Seventy Dollars, value received.
Discounted, Mar. 1, 1888, at 5 %. George Brown.
7. $iK)00.00. rk*+
rpK- . ^ , Ottawa, Jan. 1, 1891.
Thirty days after date, I promise to pay Smith & Fer^u-
sandrif'"''''.'.'''"^"'''^"'^^^^' ^-^' Three Thou-
cTved '"^'"'^ ""' ^°^ P^' ^""^"^' ^^1"« re-
TV. X J X Chas. Sanpord.
Discounted, .Tan. 4, 1891, at 10%.
t ®^*^'^-^^: Kingston, June 4, 1890.
Two months after date, I promise to pay Geo. Campbell
or order, at my office, here. One Hundred and Sixty-fiv;
Dollars, with mterest at 10 % per annum, value received.
Discounted, July 1, 1890, at 8 %. g. martin.
a $1255.75. St Thomas, June 5, 1891.
One month after date, I promise to pay Lundy Bennett,
or oi^er at my office, here. One Thousand Two Hundred
. and Fifty-five y^. Dollars, with interest at 10% per annum,
value received. Nathan Woodward.
Discounted, .Tune 5, 1891, at 10 %.
f ^^^•^«?«- Toronto, May 16, 1890.
Four months after date, I promise to pay Mark Wallis
or order, One Thousand Four Hundred and Fifty Dollars'
With mtert-st at the rate of 7 % j^r annum, value received. '
Discounted, Aug. 22. 1890, at 8%. ^"'^'^'''^ ^'^^•'^^-
i f
U^
38
BANK DISCOUNT.
11. A note for $1750, drawn April 1st, 1890. at 2 months
is discounted May 12, 1890, at 10 %. What is the difference
between the true and bank discount ?
12. A note for 827(55, drawn June 12th, 1889, at 30 days,
is discounted 10 days before maturity at 8 %. What is the
difference between the true and bank discount ?
13. A note for .^50, drawn Sept. fith, 1890. at 2 months
and bearing interest at the rate of 4% per annum, is dis-
counted immediately at 7h%. Find both true and bank
discount.
14. A note for S365, drawn .Tan. 12th, 1890, at 3 months
and bearing interest at the rate of 12% per annum, is dis-
counted 10 days before maturity at 10%. Find both the
tiiie and bank discount.
15. A note for mio, drawn Sept. 1st, 1891, at 90 days
and bearing interest at the rate of G % per annum, is dis-
counted Nov. 12th, 1891, at 10 % per annum. Find botli
the true and bank discount.
10. A note is discounted 30 daj^a before due at 8 % If
the proceeds amotmt to 8953.60, what is the face o°f the
note ?
17. The discount on $960 for 90 days is $15.60. What is
the rate per cent. ? If the rate is 12 %, what is the time '^
If the rate is 12 %, the time 30 days, and the discount $4.50,
what is the amount ?
18. A note for $750, dated April 1st, 1890, at 60 days
and bearing interest at the rate of 10 % per annum, is dis^
counted nnmediately at a bank at 10%. Find the dis-
count.
19. For what sum must I draw a 30 day note that, when
discounts at a bank at 8% per annum, the proceeds will be
"rto8. 24 ,
2 months,
difference
; 30 days,
at is the
! months,
m, is dis-
md bank
months,
n, is dis-
both the
90 days,
n, is dis-
ind botli
8%. If
e of the
What is
) time y
it $4. 50,
days,
, is dis-
he dis-
1. when
will be
BANK DISCOLTW. ^
20. For how much must I draw a 90 day note that, when
discounted at a bank at the rate of 6 y per annum X
ceeds will be 8708.84 ? ^ «^ ^ /o P^r annum, the pro-
21. For how much must I draw a 30 day note that
when discounted at a bank at the rate of 8%Vannum'
the proceeds will be $238.24 ? '
Jt ^;-t' ^^'^^^" °^'"^ ^* *^« ^^"^^ '^^ following
notes, which were discounted Sept. 1st, 1891, at 8 % •
Note dated July 15, 1891, at 30 days, for ° . ..$750
" 25, " '^ 2 months, " '.*.'." .'.$600
Aug. 15, - w 3 . ,. ^^^
The last note was bearing interest at the rate of 6 % per an-
num. What were the total proceeds of the three notes ?
23. I owed 83500, and only had 8750 on hand. I dis-
counted a note for 81200, due in 12 days at a bank, at the
rate of 8/ per annum, and drew an accommodation note at
W days for such an amount that, when discounted at a
bank at the rate of 10 % per annum, I was able to pay my
note and have 8100 remaining. What was the face «f t^
accommodation note?
24. I wish to raise 82750. I have three notes for 8500
each, maturing in 15, 30 and 45 days respectively, which I
discount at a bank at the rate of 10 % per annum. For how
much must I draw an accommodation note that, when dis-
counted at a bank at the rate of 8% per annum, I will
oDtam the money required ?
25. Smith & Ferguson offered at the bank the foHowing
notes, which were discounted Mar. 15, 1891, at 10% :
Note dated Feb. 12, 1891, at 1 month, for ' " ' $250
Mar. 1, - "60 days, - .''."■■■ '8250
'• 12, - " 10 - - ^^
The first two notes were bearing interest at the rate of 6 "/
per annum. What were the total proceeds of the three notes ?
40
PARTIAL PAYMENTS.
PARTIAL PAYMENTS.
(Month, 30 days.)
^- ^^^^- Toronto, Sept. 12, 1889.
On demand, I promise to pay John Smith, or order, Two
Thousand Five Hundred Dollars, with interest at 87 per
annum, value received. js^ac Moyer.
On the note were the following indorsements •
Dec-23,1889 '
Feb. 7,1891.. .■.■.■.■.■.■.■.■.■.■.■.■.■.■:;;'S
What remained due July 29, 1891 ?
^- ^^^'^^' London, Sept 13, 1888.
Two years after date, I promise to pay A. D. McGregor
or order. One Thousand Seven Hundred and Fifty Dollars'
with interest at the rate of six per cenU. per annum, value-
"^^^^' JAME^ Brock. '
On the note are the following indorsements :
Jan. 8, 1889 ^.^^
Dec. 13, " !^?^
What remamed due Sept, 6, 1891 ?
^' f^^- St. Thomas, Jan. 12, 1891.
On demand, I promise to pay A. D. Patterson, or order
Four Hundred and Fifty Dollars, with interest at the rate
or nine per eent per annum, value received.
Following are the indorsements : ^^'''''''' ^'''^^«-
April 12, 1891,
July 17, " • *^""
Aug. 17, '« ...........".".'.'..'."."."■ ; f^
What remained due Joi 15. 1892 ? ""
PARTIAL PAYMENTS. 41
4. $1800. T?«! I.
J^mngham, Ausr. 10. 1889
One year after date, I promtao to pay Jam^s Pmnei, „r
order One Thousand Eight Hundml hollar., value^^eS
w.th .nter^st at the rate o, ten P.r cent pe; annu"!
John N. Cari*
Indorsements :
Dec. 1, 1889
Mar. 4, 1890 * ^^
Feb. 1, 1891 *^^
Mar. 4, " '. * ^^
--,, $500
What remained due June 9, 1891 ?
J: f'^'T '"'" ^^^^' ^^"^ ^^"' 1' 1«90, and bearing in-
terest at the rate of 8 % per annum, has indorsed on it the
following payments: July 5, 1890, $810 ; Sept.. 11 1890
Sl2o; Jan. 13, 1891, MOO; June 18, 1891, /lOO 'w^;
remained due Sept. 30, 1891 ? > ^ w. what
6. A note for $1560, dated April 12, 1888, and bearing
ZZl '• ''' "^^' in per annum, has' indor^eTr'
the following payments : July 15, 1888, $15; Oct. 15, 1888
$15; Jan. 15, 1889, $30; June 12, 1890, $600. mat^'
mamed due Dec. 31, 1890 ?
7. A mortgage for $2400. dated Jan. 1. 1887, and bearing
interes at the rate of 10 % per annum, has indo.^:""!
1-^.0, $17o. What remained due Dec. 11, 1891 ? .
J' .^^T ^°' ^^^^' ^'''^ ^P"^ ^' 18^0' and bearing in-
terest at the rate of 5 % per annum, has indorsed on if the
following payments: Dec 1, 1890, $25- June 8 1891 sqT
Nov. 18, 1891, ,25. What rLmainU dJe J^^ 1,' Zf'
w ;' .T ^°' ^^'^^' ^^*^ •^^"- 1' 1^' a^d bearing in-
ter^st at the rate of 7% per annum, has indoi^ on it^he
following payments: July 6, 1889, $200; Sept 2, 1888, $50-
42
PARTIAL PAVMFOXTS.
10. A note for .f 3(J0, dafcwl July H jftHtJ nr,ri k.. • •
tprptjf nf +k« X ,/>„. • "'".y '^, ifw.i, and beanngr in-
terest at the rate of 9 7 ixu' iitimi,T. u • j ■,
* 11 • ^° ' ' "■""urn, has indorsed on if, tVio
foUowmg payment. : Aug. H, IHW, MOO, Dec 15 ,Vc^
so' Zl: '*'• *:",' '""^ '■ '«"• •'»» Ifec. HI C'
«10. What remainwl iliio Cob. ft, 18!)2 •/
sjoo. .Tan. 12, .«.,«., ,,.,, ,;,«;,'; J*',X«: 1S2
!
5' Z 't4 wt f*'' *'•'' ''^'' ^' ^«^^' *'^^^' «^pt.
1891 ? ^""''""^ "^^"^'"«^^ due Nov. 20,
13. A mortgage for $1600, .lattd June 12, 1890, and bear-
ing interest at the rate of 5 y .^.r annum hna • i a
+u^ *„ii . /« ''^'^ ivnnum, has indorsed on it
the following payments: June ,o, mm, «500; Sept 8 1890
«2o0; April 0, 1891, *100; Ju,, 15, mi, 8100. ' What rel
mamed due Jan. 1, 1892 ? vvnacre-
wh v. T '^^''^ ^' '^'' ' ^""^ ^''^^ "^^*^' '- »'^00, at 10 y. on
3 ito ^toTr';!'"""'^ '''' ^""'-'"^ payments: June
3, 1890, $10; July 3, 1890, $10; Atiff, 8 1890 $10- ^^1?
1890, $10; Oct 3 1890 »Jo \%n f . ' ' ^P** ^'
1891 ? ■ ^*'"* remained due Mar. 8,
15. A note for $125.50, dated April 12, 1888, and bearing
merest at the rate of 4% ^r annum, ha« endol^ed on " hf
fono..ng payments: July 10, 1889, $25; Mar. 10, 1891. $50;
?eb 1 S' '"■'"' ''■'*''*'"• ^h-*r«-aineddue
.STCKJKS AND BONDS.
48
STOCKS AND BONDS.
J: 7l!^V%*l^« ?vidend on $4200 par of stocks, if the
rate of dividend is 4S 7 ^
sell at di% discount, brokerage § % ?
3. What is the cost of $3600 par of stocks bought at 01 7
premium, brokerage i % additional ? ^ -t /»
pJi ^'''^*! ^'^2000 par of stocks at (J8|, and with the pro-
it P;^;^h«^«ed other stocks at 1211. How many shares did
LX1 '""' "'^ ^ ^ ^''^ '"^^"^ -^ *h- -- for
5 At what price must 7 % stocks be bought to realize 8 7
on the investment ? ^^"/o
0. I can buy 8% stocks at 120, or 9% stocks at 130.
Which mvestment will produce me the greater per cent of
income on the investment ? t^ ^ ui
7. What per cent, stocks can be bought at 792 to yield
8 % on investment, the brokerage being a % '?
8. A speculator bought 40 shares of 5 % stocks 59i, re-
ceivei an annual dividend, and then sold out at 54g. What
was his ^ain or loss if the brokerage in each case was i % ?
9. A gentlernan bought stocks at 63| and sold out at 64*.
He found that he had gained $44 after paying i% for buy-
mg and the same for selling. How many shfil did he
10. A capitalist purchased sufficient 6% stocks at 42| to
produce him an annual income of $426. How much did he
mvest, if the brokerage was | % ?
«■;
44
STOCKS AND BONDa
stockB at 9oi. How much was my income increased, if the
brokerage in each case was J % ?
mnl^'f'^.^^""^"'^" '"''^'^ "^^2560 as follows: «?G420 i„
aVm n/ 1:'.'*.^''^' ^"'^ '^^ ^"^^"^^ ^" ^-"k stock
If tie btl r^ ^ '";^'"'" "^'"^ "^« *^^ ^»-^-l income
ir the brokerage m each case was ^ % ?
13. I paid 82790 for U. 8. 4 J bonds, and' i^alized o y per
annum on my mvestment What was the par value o? t'l^e
mut J^'^'^^^^'^y^^^^^y "hares (100 each) at 4 % discount
sJk atTso/^l^f ' '"'^^ the prc^e^ invested" in bank
stock, at 12^ below par, and paying a dividend of 6 7 ,
may yield an income of 81260 ? '^ '
15. I invested 821315 in Bank of Commerce stock at 122i
brokerage i% additional, the half yearly dividends being
-n/o' ;Find my annual income from the investment
16. I sold 85000 par of 5% stocks at 112, and with the
proceeds purchased Bank of Commerce stocik, paying 67
Uividends. If my yearly income is increased 8 70, at whaf
quotation did I purchase the Bank of Commerce st;K.kV
atY7(U TT" ^"f^' ^^^^^^^ Bank of Montreal stocks
t ^^,7' ^"^'^^^^S^e * % additional. What rate % of dividend
should the stocks pay in order that he may make 5% rn his
money ? /o "»* *"»
18. A broker received 842100 to invest jn U.S. 5-20 bonds
after reserving as brokerage i% on the par value of the
amount purchased. What was the commission, the bonds
being at a premium of 5 % ?
^^Sk^ T ''''''"^ **^ ^" ^^"^^ '^^^ at 120, and
85535 m railway «t^oo.ks at 135. If the former stock^ pay
4 ^ dividends and the latter ^ %, what is the total income ?
STOCKS AND BONDS.
46
inv^n. 8?! ' ^^^'"o ^'^.^OOOof Dominion Bank stock
?iT Flf.. r"""""' '"^^ "^^^^ ^^ ^^ 125, and pays
«4 /o . Find the alteration in his income.
the alterution'r^' :i^f i St"!\ "^"^^ "'«»*• »'-''
^ o, income, it the brokerage each way was
22. A man bought 40 shares of 5% stocks' at 632 and
after receiving a half yearly dividend sold out at 62^ 'pi^d
his net gam or loss, if the brokerage each way was f %
28. I bought 5 ^r cent, stocks at 54|, and after reclivih^
aqua^ly divMend sold out at 54. \y net^^J^^aS
srsVdib.:;;"'^ "^'^^^' ^^^ '''■ «- -^-^
24 A broker, on his own account, bought 30 shares of
o % stocks at GO, and 20 shares of 6 % stocf s at 70. F^nd hi
average per cent, of interest on his outlay.
25 A gentleman bought, through a broker, 100 shares of
9^ andto t '''^'' «^-s of manufacturing st^^lM
w^.'b ^ f , ''' ""^ ^°"" "•^^P'^^y '"^^^ at 102. What
ase?^^Whir"!r'' " '^ P^^^ *^ brokerage in^h
case^ What was the total brokerage ?
auctmg J^ brokerage for selling and iy for bnvini.
bought 12% stocks at 1993. How mnnh • - ^ ^'
creased ? * '""''^ '^ "^^ ^^«o™e in-
27. The net profits of a company, whose cfinifni of «i, •
^25000, is $1000. If $125 be rese^^ to Z. , '"
losses nnH ti,« • i , "^^ervea, to meet unforseen
ios^s, and the remainder be divided among the share-
holders, what rat;e rx\r r^nf -f r -j ■, = »iia.re-
declare? Tf tT„ .1 T '^'^^"*^ ""'^^ ^^^ company,
what ,1. '^"'"^ °^ *^« ^*«''^' P'l^^hased at 75
what rate, per cent will I make on my investment ?
;*^
i
48
FIRE INSURANCE.
FIRE INSURANCE.
I:|
1. A man insured his house, valued at $1750, at i its
value. What was the premium paid, if the rate of ins r-
anco was J % ?
^. A gentleman insured a building at f % premium. The
premium paid -/as 87.68. What was the value of the build-
mg, if It was insured at ^ its value ?
a. A store and contents was insured for 827000 as fol-
lows: J in one company at § % premium; J of the remainder
in a second cdmpan, at J % premium; and what rev.aained
in a third company at i % premium. What was the total
premium paid? What was the average rate per cent, of
premium paid on hhe whole ?
4. A stock of goods valued at 820000 is insured in one
company for 8'^T,>0 in another for 84.500, and in a thini for
!fL^VVi 1 ^ u' r' P^"*^^"^ ^^"^^^ *« '^^ extent
or )^5o00, how much should each wjmpany pay ?
5. A fire insurance company charged 848. J 5 for insuring
a house for 86420. What was the rate % of insurance ?
0. A fire insurance company took a risk of $24000 on a
stock of goods. If a partial damage of 87600 should take
place, what % of the risk should the company pay ?
7. For what sum should a house be insured, valued at
82140, to realize the value of the house and the insurance
if the rate of premium is 2J % ?
a An insurance company took a risk of 81800 at 1 7
iwmium, and reinsured J of the risk in one company at g 7
premium, and i nf f ho »-orvw,;«fie- i- .-^u
,, -J. — .vi.iUi.xuei III jtHuwier company at
i % premium. What did the company gain or lose by re-
FIRK INSlfUANCE.
47
insuranoa What p«r cent of promium -IM tho .on^pany
not on tho romainrier of the risk ?
f>. A merchant has a stock of goods valuo.1 at .S17ir, 01
Ho wishes to have them insured at such a sum as will covo^
the vahxe of the goods and the premiun. in case of loss. For
mium"r;^"^''^'^^"«^'^^^--r^. if the rate of pr^
10. A merchant insured a stock of goods for S5'200.2o
covermg both the value of the goods and the premium i^
ease of loss. What was the value of the goods if theTa e
of premium was 4 r 'J <= , uic rate
insured 1 of the risk at r ^ premium, and i of the remain.ler
12. A gontleman insurorl n. hou* (or J of its value nt »y
prom,™. If the pr„,„i„„ ,an,„„nt<.l to 80.40, Xt™
tho value of the house ? ."natwas
18. I insured a house for such a sum a, to cover both the
value of the house and the ^rominm in case of loss. If the
house was msure,, for 8700, and the rate of .^miun.was
-li ^ , What was the value of the house ?
14. A cargo was insured for .$7500 at ? 7 premium in nno
company^ and for .25(X) at ^^ Premiui l^ZZr "com!
pany. The cargo was insured at ^ of its value. Find the
net loss to the owner, if the cargo is destroyed.
for1io^tl1"r"'^ ''•''''" ^"^^"^' ^" ^'^^ --P-^'
iorj51000(. at 5/ premium, in a second company for .?8000
at g% premium, and in a third company for $7000 at \°/
premium. What was the nverop-P ,^-r .-> <- r ■
i.n,-riy Tt^i. u Mj- H.^erage per cunt, of preimum
w I f '^^'""^ '''^' damaged to the extent of $14000
what should each company pay ? '
■I.s
FIUK l\MrKAN(!E.
10. A morchant insuro-l 8i)()() bushels of potatoes at U 7
prommm. If the ,no„.iu,n was m, at what price per-
bu^hiel wei-e the potatws insured ?
17. For what sum must a vessel worth .S20f)()0 bt. insured
to cf,ver the value of the vessel, $l.aOfor policy and sun'ey,
and the premium, if the rat<> of premium is 2A % ?
la A block of buildinsrs worth .^000 was insure! in one
rompany for mm) at ;/ % premium, and in another com-
pany for mm at J % premmm. If the buildin.^ should ho
damaged by fire to the extent of mm, how much should
each company ])ay ?
19. A building worth S7500 was insured at % of its value
If the premium paid was m. 75, what was the rate rnyv cent'
«» premmm 'r*
20. A merchant insured a cargo of goods worth i?ir,00 in
one company for $8000 at 4% premiun., and in another
company for $7000 at ^ % premiun.. What was the average
rate ^^.r cent, of ,.remium paid v What was the total p,v-
miumpaid? "■! i"«.
21. A merchant insured a lot of goods valued at mm
pany for SBOOO at A >. premium, and in a thinl companyTt
1 per cent, premium for such an amount as to cover the
cost of he gocx^s and the total amount of premiums paid in
^se of loss. For how much were the goorls ins.ired in the
third company ?
22. A fire insurance company took a risk of $25000 at
t/o premmm on a building worth $40000. The building-
was msured for $10000 in another company at l 7 pre!
oTZt Of .75^'f' ^^^ 't"^^^^* ^ ^lamaged';yfirtt'the
extent ol $7o00, how much should the fii^t company pay '>
What was the average per cent, of premium paid on tW
whole amount insured ?
TAXIOS.
49
TAXES.
the do lar. What .s the amount of my taxo., if my pro-
Avt^^-n'^^'r*^ i'Xi)endituro in a oerl^ain city is S80000.
AMmtwxll be the rat., of taxation, if the taxable prorx^rty is
assessfxl at $2,880,000 ? ^ ^ ^
H. Find the tax on property assessed at .§1750. when the
rate of taxation is 18 mills on tlie dollar.
4 A township assessed at $1,250,000 wishes to build a
bridge for $8000. What will be the rate of taxati ex'
1-sed as mdls on the dollar. What will bo the amount
or .1 n ins taxes who is assessed at $60ou y
5. A man's income is $1250 a year, of which $400 is ex-
empt from taxation. What tax does he pay. if thecal of
taxation if 1 J cents on the dollar ?
«. The property of a town is assessed at $800 000 Tho
council w^hes to raise $'^50 and the collector's charge of
4/o on the amount collected. What will h, the rate of
taxation r
7. A ratepayers taxes amount to $2.94. What is the
rate of taxation, if his property is assessed at $4200'. What
Mil be the total amount of taxes raised, if tho assessed
valuation of the property is $2,150,000 ?
851,000,000. The amount of mone, re^iuired for the veuriv
expenses is .S19000 and the collector's charge of 5 °/ . What
will be the rate of taxation ?
4
^ TAXE&
9. I bought a house and lot for $800. The property is
insured at | of its value, and the rate of taxation is 15 mills
on the dollar. The house is insured for $400 at ? °/ pre-
mium. If money is worth 6 % per annum, what monthly
rent am I really paying for the house ?
10. My property is assessed at | of its value, and my
taxes are $10.80 If the rate of taxation is 1 J cents on the
dollar, what is the value of my property?
11. The taxable property in a certain city was $1,128,756
ine taxes were assessed as follows:
For school puri^oses g. 5 mills on the dollar.
general " 3,4
What was the amount of money required for each purpose ?
12, I own property on a certain street assessed at $1200.
The taxes are assessed as follows:
For general purposes g ^i^, „„ ^^^ ^^^^^^
•' frontage 4 u ,,
" school purposes 14 u ,,
" sewerage 3 u ^^
What amount of taxes do I pay for each purpose ? What
IS the total amount of my taxes ?
s/500^000 '".r' "'T'"" "' *'^ p^^p^^'^ ''' - ^'^-^ -
%l,oOO,000. Ihe council wishes to raise $7700 and the col-
lectors commission of 8 % . What will be the rate of tax-
ation ?
14 What is the total tax on real estate assessed at $7500
and personal property assessed at $2400, if I am allowed a
discount of 3 % for prompt payment, the rate of taxation
teing 14 mills on the dollar ?
15. The taxes on a certain property amount to $17.10
If the property is worth $2700, and is assessed at H of its
value, what is the rate of taxation ?
TAXES.
51
lar.
16. In a certain town the following is the
ESTIMATED EXPENDITUKE.
Market buildings ^ 3^^^
Police department ^..
r ire "
,, , . 3000.00
TT"V\ 12000.00
Pubhc schools lo-Q^^
Insurance ^^^^^
Interest on debentures 7240 17
Lighting streets ■.■.'.■.*.'.'.■;;;;;;;;;;: booJ^oo
l^^^^^S.^^., 400.00
-fcilection expenses . . qha r.r.
o J. obi. 00
^"^^™^ 0274.00
Following is the
ESTIMATED REVENUE.
Balance from last year ^2400 71
f'""''' .'.■;::: 1704:13
I^i<^e««es J250 00
Police court funds " " onnVkr.
^""*"^ 160.00
?. r)l ^r"f ^^^"^*^«" °* *h« property of the town is
$3,674,000, what will be the rate of taxation, expressed as
the lowest number of even mills on the dollar ? What will
be the estimated surplus ?
«Q7-n "^^i """^ ''^ *^''^^^''" ^^" ^ necessary to raise
5*y7oi) and the collector's commission of 2A y on pronertv
assessed at $500,000 ? What will be the taxL on proLrtv
assessed at $1750? On proi^erty assessed at $2100 ?
4-
52
DUTIES AND CUSTOMS.
DUTIES AND CUSTOMS.
at «q7^?J' '^' ^"^^ ''" ^" importation of books invoiced
at $37, If the rate of duty is 35 % ad valorem ?
2. What is the duty on 15 bbls. of molasses earh rnn
taming 40 gallons, at 15% ad valorem? ' ""
nf !' t* ^o"^^ f '^''* "" ""^^^ ^*^*' ^^h^*^ ^« the duty on a stick
of timber 2d ft. long, 2i ft wide, and 2 ft. thick ?
J; ^f/\*!^«^^ty on an importation of 1200 yds of
cotton, 27 inches wide, invoiced at 4^ cts. a yard the rate
of^duty thereon being 2 cts. a s^ua^Vani an'd S%'ad ^
31 J gallons, at 10 cts. a gallon, allowing 2 % for leakage"
Jl' I^""^ ''u^' ^"*^ ^" ^^^^ ^^•''- '^f "^il plate, the rate of
duty thereon being .S13 per ton ? " rare ot
w^ii^^T.K *^' '^'"^^ °" ^" importation of 9fi0yds. of
wc^llen cloth, we^hing 1200 lbs., and in voiced at *l 25 a
r: v:i::^LT '' '"^ ^'^-"" '-^^^^^ ^^ -• ^ ^^- -<^ ^0%
a A grocer marks goods at an advance of 25°/ on the
gross cost. How much is an imported article, invo^^d
S2.40, increased n. price by the imposition of a duty of
9. A dealer imported a consignment of 50 lbs. of tobacco
and paid thereon ,15 duty. What was the invoiced p^^
^':lor'm ? ""^ " '"^^ "^'^ '' ^'^- ^ ^'^^ -^ '^ ad
DUTIES AND CUSTOMS. 53
J\ lh™T.f ^ ^'"'"'^'^ "^ '^^^^ ^^"^^ i'^^^'-'^d at 8
ct . a lb. If the rate of duty is 1| cts. a lb. and 25 y ad
valorem, and the total cost was 88.55, how many lbs. did I
11. A merchant imported a consignment of watches in-
lltT' 10. 6d. What is the duty thereon at 25 % Z
12. What is the duty on an importation of 100 baskets of
t:^^;z^ '' ''' - ^-^-' - ^ % ^-^' ^"ow-
13. A merchant marks goods at an advance of 30 »/ on
01 .w^. The freight, etc., amounted to $2 40 If the
article was marked at $18.36, what was the invoice price ?
of W 'T'^Jn^ ^r'''' '''" ""^''^ '^^'^ ''^' ^ «I^ifi« duty
to ^.4 60 If ?)? '' "'°""- ^'^ '"^^^*' ^*«-' ^— ted
cost me ? "''^''''' ^^'"^ ''''' ^^'^' ^^"^^^ '^^^ the piano
15. A merchant imported goods invoiced as follows:
280 yds. broadcloth at ,0
112 " carpeting •'.".'."■.'■■.■.■.■.■.;; g"* "" J"**
75 casks maderia " ^'^^'
rvu A . , $30 a cask.
The duty on broadcloth is 35% ad valorem; on carj^ting
1 i f 7f °'''''' ^"^ '''^'^""^^ ^^ % ^^ valorem. What was
the total duty paid ?
v/''/ !";r''^ ^^^ ^^'- "^ ^^""^^ 27 inches wide, and in-
voiced at 40 cts. a yd. What is the total duty, if the rate
of duty IS 4 cts. a yd. and 20 % ad valorem ?
^^^o''.V'*^^'^"*^ °^ ^ consignment of watches in-
voiced at mw lOs. 6d. , at 25 % ad valorem ?
J;
54
EXCHANGE.
EXCHANGE.
1. Whp.t is the cost of a si^ht draft on Toronto for S1200
^^ H % premium ?
2. What is the cost of a draft on Chicago for S8G0 at -4°/
discount? */°
3. Find the cost of a bill of exchange on London for £800,
the course of exchange being £1 for $4.60.
4. I wish toa-emit $480 to Liverpool. What will be the
face of the bill, the course of exchange being £1 for .^4.85.
^ n. Find the c^st of a bill of exchange on L<jndon for
£lo00, exchange being quoted at 8|.
B. What is the cost of a bill of exchange on Liveriwol for
£900, exchange being quoted at par.
7. A merchant in Toronto wishes to transmit $1000 to
New Orleans. Exchange on New Orleans is quoted at ^ %
premium. Exchange on New York is quoted at ^ % dis-
count, and from New York on New Orleans at | % premium.
Should he buy the bill direct or through New York ? What
would be the cost each way?
8. A merchant in Toronto transmitted £500 to London by
way of Paris. Paris exchange Ls quoted at b. 37.") francs for
$1, and exchange from Paris to London is quoted at 20.28
francs per £1. Find the cost of the bill.
9. Find the cost of a bill on London for £10 10s. 8d. , ex-
change being quoted at 8 % premium.
10. I wished to remit $1200 to New York. Find the cost
of the draft at I % discount
EXCHANGE.
OO
Ji;4?-^'tf '"'^'^^°''''°^*^^^ ^^« purchased
for $1503. 7o. What was the course of exchange ?
12. A merchant in Hamilton remits £500 to London as
^llows: First to Paris, at 5.36 francs per $1; thence to
Hamburg at 17o francs per 100 marcs; thence to London at
WW "^"""^LV^^ ^ ^^^* ™^^ ^« P^y f^r the draft ?
What would he have paid had he x-emitted the money direct
exchange bemg quoted at 10 % premium ?
13 A merchant in Glasgow ships to a commission mer-
Chant m Toronto goods invoiced at £100 10s. 12d The
agent pays $45 freight and 35% duty, and sells the* goods
for mo After deducting 3% commission, he sends the
balance by bill of exchange on London. If exchange is
quoted at 7J% premium, how much did the Glasgow mer-
chant gam or lose by the transaction ?
14. I shipped from Toronto to an agent in New Orleans
goods invoiced at $600. The agent paid $140 freight 30 V
duty and $48 for storage, etc. He soA the goods for ilOOO^
and after deducting his commission of 5 % , remitted the .
balance by draft. If exchange from New Orleans to
Toronto ,s quoted at I % premium, how much did I gain or
lose by the transaction ?
15. A Hamilton merchant owe? 1200 francs in Paris. He
buys a draft on London when exchange is at 8, and ex-
change between London and Paris is 25. 25 francs per £1.
\Vhat does he pay for the draft? What would he have paid
Z^XtT""' '-''''' ' ^^^-^' -^-^el.ing5.40
10. A London merchant ships to his agent at St Thomas
g.)ods invoiced at £200 10s. 6d. The agent pays $100 for
freight, 30 % duty, and $125 for other expenses. The agent
sells the gnosis for $',00, and after deducting hi. commission
of 5 /, remits the balance to his employer by bill on Lon-
don. If exchange i« quoted at 8 % premium, how much did
the merchant gain or lose ?
5(J
SIMPLE AN1> ('OMI'r)lfN'D PROPORTION,
SIMPLE AND COMPOUND PROPORTION.
(This subject might profitably bo Intmlucod immediately
after Dejilrrial I*'ra<!tlons.)
1. If 31 lb.. (,f biifctor cymt m.H2, what will 27 lbs. cost ?
Jl8 Ibs^'r' '^' ■'' '"'■ '^'^ ""' "' ^'""'' ^"^ "^"^'^ "^««^ I W
9^ If the interest on m^i Ih «14 for a certain time, what
i« the interest on $725 for tho narm time and at the same
rate per annum ?
4. If 47 hot^es r..,st mm, how many hor.es can bo
bought for $,%!() y '^ ^
5. A rect.vod *175 iividenrl on $:i500 of stock. If B re-
ceuwl a dividend of ^7.5r), how m'tch stock did he own ?
0. A can walk 1 mile i„ Ui .ninrfces. How long will it
take hnu to walk 2()0 yanlK at the same rate ?
7. If 14 men can do a <«,i'tain pi(X5e of work in 21 days,
how long will it take 21 men f^ do it? How many men
would be required to do the work in 4J> days ?
8. A pays $4.32 taxes on ft farm assessed at $2160. How
much should B pay on a fann aHMossed at $5000 ?
9. Two railroads together charge $27. 50 freight for carry-
ing certain goods 275 nules. If the first railroad carries the
goods 160 miles, how should tho money be divideil ?
10. A man can walk from A to B in 12 days by travel-
ing 9 hours a day. In how many days can he make T^e
journey if he walks 10 hours a day ?
n. If a pile of wood 16 ft, long, 4 tt wide, and 7 ft. hi-h
IS w.>rth $27, what Is the vahio of a pile of wood 23 ft Ion-
5 ft. high, and 4 ft. wide ? ' ""
SIMPLE AND COMPOUND PROPORTION.
57
12. If U7o will accrue $3.80 interest in 48 clays, how
much will .^500 accrue in 28 days ?
13. How many bbls. of flour will 27 laborers consume in
4^^ days, if 16 laborers consume 28 bbls. in .54 days ?
14. By laboring 10 hours a day, 250 men can perform a
piece of work in 25 days. How many hours a day must 350
men work to jiei-form the pb in 30 days ?
15. A pile of stone 30 ft. long, 25 ft. wide, and 10 ft high
IS worth ,$2.50. How high must another pile be. 40 ft. long
and 36 ft wide, to be worth $3.50 ?
16. If 8 men, working 10 hours a day, can plow a field
130 rods long and 20 rods wide in 7J days, in what time
will 1 man plow 2^ acres, if he wf)rks 9 hours a day V
17. If a cord of wood is worth $3.f50, what is the value of
a pile of woofl 40 ft. long, 9 ft. high, and 4 ft. wiue ?
18. A piece of work can be done by 12 men in 8 days, by
working 10 hours a day. After working 6 days, 4 men are
discharged. How many liours a day must the remainder of
the men work to have the work completed in the 8 days ?
19. A certain map is draw n on a scale of 8 miles to an
inch. How many acres are there in a township which
measures 1^ inches by I of an inch ?
20. Eight men and 3 women can d.) a piece of work in 12
days by working 12 hours a day. If one man can do as
much work in a day as two women, in what time can 3 men
and 8 women do the work by working 14 hours a day ?
21. If $525 accrue S3. .50 in 30 days at 0% interest, how
much money will be required to accrue $4.50 in 45 days at
8 % interest ?
22. Forty men have provisions for 27 days, when each
man is allowed 25 oz. a day. If 10 men are withdrawn, how
i
•■11
58
SIMPLE AXD COMPOUXI) PROPORTIOX.
many o. may eaoh man be allowe.l, in order that the pro-
vision, wai last the remainder of the men 30 days ?
•^*a. If 12 men ean out 40 cords of wckkI in 2h days liow
many men will be re.,ulre.l to o,nt 28 c-onls in 7 day.^/
24. If a pile of wooci 80 ft. long, 10 ft hidi, and 4 ft
w.e.s worth *57, what is the value of a pile 20 ft. Ion.
« ft. hig'h, and 4 ft. wide? ^
25. A man e.an walk around a field mO yds. Ion- by 150
a tllf f " l'-^.;'-mtes. 1 n what time can he walk around
a noui ^ ot a mile s<|uare?
STORAGE.
1. At I i cents a bushel per mrmth of average storage
Tan 19 tl f '"f /^"^ ''^'y '^ «» ^he following receipts
.Ian. 12. ..12 bvt; Feb. 8. 221 bu. ; Mar. 10. 75 bu. : Mar. 81,
IbObu.; Apr. 12, 18(> bu. ? ' *
f. ^l 2 ^^^'- ^ bbl- per month of average stomge, what
.s the storage due Nov 1 on the following receipts: Lr. Ki,
362 bbl. ; .Tune 1, 260 bbl. ; June 15. 128 bbl. • Aug. 4 150
bbl.; Sept 25, 240 bbl. ; Oct. 5, 180 bbl. ? ^ '
3. At 45 cents a head per month of average grazing, what
Man 8, 28 head; June 1, 50 head; .Tuly 10, 12 head; Sept
«, 22 head; Oct 4, 24 head? ^
4. A merchant made the following deliveries of pork at a
warehouse: Mar. 1, 80 bbl. ; Sept 12, 40 bbl • Sont 28 45
bbl. ; Oct 0, 24 bbl. ; Nov. 8, 40 bbl. He withd;:: po 'k
follows: June 1, 20 bbl. ; .Tuly 4. 10 bbl. ; Sept 2.5, 25 bbl. ;
STORAPrE.
59
a.. 24, 30bb,, Nov 15, .Obbl. What i. the sum due
iJt^. HI, at 2 cents a bbl. per month of average storage ?
5 A warehouseman received wheat as follows: Jan. 10
2oObu.;Feb 10,175Uu; Feb. 28, Hlobu.; Mar, 10,185
bu. ; Apr. 30, 280 bu. ; July 1, m bu. He made th; follow-
20 i Tu "''■ '"' '^'^ '"'' '^""^ '' '^25 bu.; July KJ,
120 b,u What was the sum due Aug. 1, at j cent a bushel
per week of average storage r*
J' ,«r*^''\^.*''' ''^'''^' "" *^" following account to Nov.
May Id, 1891, 1,.t bbl.; June 18, 210 bbl. ; Au-. 4 110 bbl •
.Sept 8, 50 bbl.; Oct. B, 125 bbl. l^livered .wV80 bb t'
July 4, l.,0 bbl. ; Aug. 81 , 25 bbl. ; Oct. 22, 95 bbl.
7. Comput^ the storage cm the following account to Dec.
^l, l%.->0, at A a cent a bushel ,>er week r,f average storage:
RR(^RIVRI).
1H90.
Mar. 22. 175 bu. wheat
-Tune I. 150 "
.July 81, 210
Sept. 8, 871
Nov. 28, 104
DrOMVRRRa
1890.
April 15, 90 bu. wheat.
July 8, 125
Sept. 12, 350
The. 8, 212
1-^c^^''"*f ^^"^ '^''''''^^ ^" *^^' following account to .Tan.
lo, 18J0, at 3 J cents a bbl. per month of average storage:
RRCEIVRD.
1889.
July 31, 210 bbl. mdse.
Aug. 18, 175
Sept 21, 216
Oct. 4, 199
DELIVERED.
1889.
Aug. 1, 175 bbl. mdsa
Sept 10, 150
Oct 28, 200
_ . Dec. 31, 150
Dec- 29, 20(^ '» |
lovvs-^ ^a^'^bouseman received and delivered mdse. as fol-
n
u
uo
STORAGE.
1889.
Aug. 8, 18r» bb], nvjso.
Sept. 2f>, 2l(»
Nov. M, 195 "
Dec. 28, 2't() "
1887.
Jan. H. KiO '.
DEM \ EKED.
1880,
Oct. 1, MOO bhl. mclse.
Nov. 28, l.'Kl '<
1887.
.Fan. 12, 75 »'
" 29. KX) "
Find the amount dno Uy Feb. 1. 1887, at Hi cents a bbl. ,K.r
month of average storage.
10. Wliat will be the pasturage to Aug. 31, at 45 cents a
month of average pasturage, on the following account:
UE(^RIVBP.
1891.
June 1, 210 head.
July 25, 165 "
'• 29, fiO "
Aug. 1, 140 "
DELIVERED.
1891.
July 15, 100 head.
Aug. 12. 200
" 19, 50 "
'' 25. 200 "
EQUATION OF PAYMENTS.
1. Brown loaned me $125 for 4 months. For how long
should I loan him $50 to balance the favor ?
2. I loaned Jones .$150 for 4 months. How much should
he loan me for 5 months to balance the favor ?
8. I owe A $300, payable in months, and $200, payable
in 4 months. When should I pay $'m to cancel the debt ?
4. I owe Brown $200, payable in 3 months, and $400.
payable in 4 montlis. When should I pa v $900 to cancel
the debt V
EQUATION OP P.WMENTS.
tU
.'.On Jan. 15, 1891, a merchant Iniu-ht g.xxls from a
^v•holo8al», houso on the following torni.s: »500 payable in 3
months, »tOO payable in months, and mX) payable in 7
months. Find the average term of credit.
»im ^''J^^^^" ^^^- 1' 1890. goods on the following terms:
!?t()0 cash, $m on 10 days, 8300 on 20 days, «300 on 1
month. Find the average term ot credit.
7. Bought on Sept. 12, 1890, goods on the following
ir" T. '"'• J'"^ '^^ '' '''"^'^ '^^^ '^^ 20 days, and
»900 oj n days. Fmd the ...uat^d date for the payment of
the whole account
a I owe S30a payable in 10 days; 8200, payable in 30
da^-s; and $2o0, payable in 4r, days. Find the equated date
for the payment of the whole amount.
a A merchant bought goods from a wholesale houso as
follows: Ou Sept 12, 1891, .^tOO; on Nov. 12, 1891, $500-
on Jan. 12, 1892, .«300. If no credit was allowed, fi^d the
equated date for the payment of the whole amount
10. Bought goods as follows: On .Tan. 15, 1890, $600: on
S^ tT' ^'^^' "" ^^'- '' ^«^^' '^250; and on June 12.
law, «S.-loO. Find tlie equated date for the payment of the
whole amovint
11. Bought g<xxls as follows: On Mar 1, 18^)0, $500- on
S Y'' ^^^^' ^^^'^' "" S^P^ 1' 1890, .11220; on Sept.' 13,
18.)0, «o(iO. Find the equated date for the payment of the
whole amount
12. Bought goods as follows: On April 3. 1891, $240 on
30 days' credit; on July 4, 1891, $330, on 60 days' orJdif
on Aug. 15, 1891, $130, on 45 days' credit. Find the'
equated date for the payment of the whole amount
la Bought goods as follows: On Sept. 15. 1891, $250 on
1 month; on July 15, $140, on 30 days; on Aug. 1, $U0,
^^ EQTTATION OF PAVMRXTS.
on no days; on Oct. If,. jTiSO, on 2 months. Find the
CHluatefl date for the payment of the whole amount.
14. Bought gofxls as follows: On Jan. 12, 18fH), m*0 on
HO days; on Feb. 1, mdh on 40 days; on Mar. 15, ^180, on
^0 days; on Mar. 20, «120, on 30 days; on July 1, $75, on
10 dayg. p,n^ the equated date for the payment of the
whole amount
15. Jones bought of Smith & Ferguson go^xls as follows-
^m^'^^loa'' '**''' *''''' ^''"'^ '' '^'^ •*^'^^' O" -T^ly lo^*
1891, S420; on July 20, 1« . SlfJO. If GO days' credit was
allowed on each item, what was the average date of pay-
ment of the entire amount y
1<5. A retail dealer bought of George Brown & Co. :
July 12, 1889, merchandise amounting to «J3go 25
t"fi' " " " ■■.'.■■■■■ i7»;fio
^"V? " ■' " 200.40
Nov. 2o, " u 4i ,_.. ,.
170. (o
If a credit of m days was allowed on each item, what was
the equated date for the payment of the whole amount ?
17. Brown sold to Smith men-handise as follows:
Sept. 12, 1890. an invoice amounting to §175 40
21' \^' " " " :.. ".■.■.;:: 300.' u
^^' ^' " " " 172 8t
Jan. 15, 1891, " u ^^^.'^'^^
It 30 days- credit wns allowed on each it«m," what' M'as
the equated dat^ for the payment of the entire amount ?
18. Brown & Co. bought of Smith & Ferguson:
Jan. 12, 1890. an invoice amounting to ,^240 (m lOdays'credit
rt()0 " 2o «'
Apr. 8. '^ u a 17P, ,. y,^
May 81, - w .. j,.^,.^ j.
Find the eriuated date for the payment of the whole amount.
the
EQUATION OF PAYMENTS. (jQ
19. Jones bought of Hayos & Co. :
Jan. fU8f)0, an in voioe amounting to «3oO on 1 month's cmlit
I'^'^y •• - 020 "80 days' .^
l^y'y '' " io5.'2o .. ..
Fmd the equated date for the payment of the whole account.
20. TVnnett & Co. bought mdae. as follows:
^^:^ ^f' '^ '^' a Wll of $360.25 on (50 days' credit
., • .3' ' " no.fiO '• 2 months' -
^' "*' " 312.17 " 90 days' "
^°^- ■' " " 160.23 " 30 - u
^°- f' " " 620.18 " 60 " .»
2""'' " " 162.57 " 80 "
What was the equated dat« of payment ?
AVERAGING ACCOUNTS.
Find the equated date for the payment of the balances of
tne following:
Dr- (No. 1.) Geor ge Thompson. Cr.
g^l2,:To.„d«,.,,|j7300j^Nov..6,JByca,h, j ife
ll 14000
Cr.
150,001! Dec. 15,1 "
^' (No . 2.) Georoe T. Butler.
1890.
$ c."
1890.
Jta. ^l.T„.d«,.,i 22500 i'M.r. 1^,1 By cash, l' afs^S
Dr. (No. 3) John W. Johnson.
Cr.
J^ o. To mdse., | 362,00 i| FeK 18, By cash, !; ^^
^'^^'^- ^^' h 87o|00 I' Mar. 25, I '> j| 200100
64
AVERAGIXG ACCOUNTS.
Dr. (No. 4.) Wm. CoRNFORTir.
1887. ! I $ jc. 1 1887. '
Mar. l.lTomdse., 410'00 Mar. 29, Bv cash,
4, •' 4")000 ,Tuno 80. " '^
June 29,; " ,24000;,
Dr. (No. 5.) .Toiix Thompson.
1889.
Oct. 8, To mdse.
" Bl,;
Nov. 15,; "
$ c.
1889.
35000 Nov. 10. Bvcaah,
784.(X) Dec. 1. " -
;18fil00
25.
Dr. (No. ().) Nathan WoomvARD.
1888. : ^ Ic. '
Mar. 12, To mdse.. 12(}i00 i
Apr. 17, " 174100 '■
June 9, '
Dr. (Na 7.)
1888.^
May 12.
June 10.
Ry cash,
300;00 I July 1,
Samuel (tArdner.
^ i
1889.
Sept 1,
Oct. 12,
Nov. 30.
Dec. 8,
To mdse. ,
t (
i c.
316 00
45400
ir)0;oc»
looloo
Dr. (No. 8.)
Mar. 12,
Wm. a. Phillip.s.
1889. I
Oct. 12.!Bvcash,
Dec. 1,
1890.
Cr.
?S c.
I 200'00
: G5000
Cr.
1887. I 1 $'
Jan. 12, To mdse. , I 180
Mar 21,
Apr. 16.
May 1,
u
I i
325
400
200
c.
00
00
00
1887.
Mar. 12, By cash,
June 1, . "
27,
00 1 1 July 25,!
Dr. (No. 9.) George Robert.son.
1891".
$ . c.
1891.
July 8, ^ To mdse. . KJO 00 ! I i Sept 1, Bv cash
Aug. 1
Sept 8.
Oct. 1,
225 00 '■ Oct 31.
125 (X< i Nov. 8.
300 00
1892.
Mar.
<i
?5 c.
30000
20000
25000
Cr.
11 $ : C.
! 125 00
;! 200 00
L 100 00
Cr.
|! .« 'C.
i 15000
jl 20000
il looloo
Cr.
$ |c-
200 00
180 00
10000
125 00
Cr.
!i? c.
30o!oo
50 00
50 00
150 00
AVER AVrJSa AC'COFN TS.
05
Dr. (No, 10. ) W. H. A\
1890. '
Apr. 15
.Tune 4
July 25
Sept. 12
To
nulse
HKH.
^"Sjc.]! 1890. '^'
55000 1 1 .Tulv 1 Bv cash.
1*5000 I Sept. 15 ' "
4(K)(K)| Get. 27
KiOOO I
Cr.
j 400 (X)
I 250 00
350 00
Dr. (No. 11.) \v. Iinvtx.
1890. y ;| «
Aug. 31Tomf!se. lOd.j 260
Sept 25 i
Oct. 22
c. Ill 1890."
d'OV.
m
Im. iil40
30d.'!250 0f)^l bee. l'
net. BOO (K)
Cr.
«" 'i c.
00 ijl Sept. sol By cash, i 300 00
00 I : Nov. 121
115000
150 00
Dr. (No. 12.) Edward Beatty.
'1888.
$ |c.
1888.
Cr.
Sept 9lTomd.e. 30d.:|400|00 'il Oct * 8 By cash. lIsSO
Oct 18
'• 31
Deo. 17
()0d. |52o!00 il Nov. l»i
net i225 00 ; 1889.
2m./300 00 i, Mar. 1
Dr. (No. 13. ) W. L. Wickett.
00
■400 00
225 'oo
Cr.
1890. I""
May 27iTomdse. 2 m.
June 1 ,
July 13
Aug. 25
Sopt 30
10 d. ' 20
30d.ri5
,f- w
oooii
J
00' A
000
S(
i89o.~r - "\~'$jc:
June 25 Bv cash, I !300 00
lf)i
1200 00
^ , . 1| •' note 10 d, 200 00
net; 240 00 i Oct 31 i " cash. 150 00
1 m.: 150 00 i ! '/: i
Dr. (Na 14. ) .John Camphel
1887.
1887.
Sept ITomdse. 10 d. I 300 00 Oc± 15 Bv cash
Cr.
T
iC
Oct 15
Nov. 8
Det). 12
1888.
Jan. 1
Mar. 1()
Im. 1 1 250 00 Do,
30 d. 250 00 1888.
OOd. ilGOOO Jan. 12 '• cash.
300 00
notelm 400 00
net 200 00
net 300 00
200 00
1 " notvlOd 150 00
100 00
lio
casli
60
CASH BALANCE.
CASH BALANCE.
r ?• ?^^t*^^ ^^^^^ balance of the following- anoount to
July 1, 1887, at 8 % interest:
Dr. A IN Account with B.
Cr.
1887.
Mar. 1, Tomdse., '410't30 Mar. 29, By cash. 20000
" *' '• 45000 , .Tune 80. , - (150 (X)
June 29, " 24000]
T '^* f ^^2nn '"^ ^-^'''' balance of the following account to
Jan. 1, 1890, at ()% interest: *
Dr. W. A. Phillips in Account with Wm. Chambers. Cr.
Oct. 8. Tomdse.. 35000 Nov. 10. Bv cash,
" «^1' " 78t(K) Dec. 1. ^ -
Nov. 15,
I8'i00
25
ij,
» 'c.
80000
20000
25000
A,f; ^o?\S^ cash balance of the following account to
Aug. dl, 1888, at 7 % interest:
P^- ^- H. Tan-ant in Account \Vith Griffin & Co. Cr.
~I888
[ar. 1
pr. 1
Juno 9,
$ c. I, 188^:. < 7~«"""c'
Mar. 12, To mdse., 12(500 j May i2,| By cash, j 125m
Apr. 17, " 17400 .Tune 16,1 '' I 200 01)
3(5000
July 1,,
100 00
Dr^^^ohn Brown in Account with George Smith. Cr.
1889.
Sept. 1,
Oct 12.
Nov. 80.
I>ee. 8,
To mrlse..
31(5 0(j
451 00
1(5000
1 160 tH)
Oct. 12,1 By cash, 15000
Dcu 1,1 '• ,, '.i(.KJ(X)
1890, I I I
Mar. 12,, " j looOO
CASH BALANCE.
67
"^* _ '^-J^^^^^Kay in Account with F. rinch. Cr.
18fX).
Apr. 15 I To mdse. ,
June 4
.Tuly 25
Sept 12
u
u
1(
$ !c.'rri89a
55000 i July 1 By cash,
Sept. 15
Oct. 27
KJOOO
400 00
100 00
11
« Ic.
400X)0
250 00
350,00
Dr. John Maginn in Account with W. W. Ooult^r. Cr.
Oct 22
Nov. m
30 d. 1 1250 00;; Dec.
net. I 300 001!,
150:00
dI: S"l8?;l^r^\S^,- '^^ ^^""-n^ account to
^ 5^arry Misner in Account with Frank Moore. Cr.
i ^ |C.
300 00
[200 00
200 00
May 27:Tomdse, 2 m. 560 00 ^ June 25'By cash
June 1: •' 10 d. 200 00 ,| Aug. 161 - ^ '
^•___ ^: ^': <^^riffith in Account with Jas. Lilly. Cr.
J^^' 1 L ~! \fJT^r^^~mt~i~^^' — ^~"^=^ -
Sept ITo-mdse. 10d.!300 00 Oct 15 By cash
Oct In « Im. 2.50 00 Dec. 1 -notelm
Aov. 8 - 80 d. ;250 00 1888. ""^ ^ "> ,
B^12 - 60d.l;i6000 Jan. 12 - cash. '2OOOO
Jan. 'l - net'^0000 u 1 ;; note lOd 150 00
Mar. 16 ^ ^J.t gSS ^' ^"^^' ^^^^
! $ ic
300 00
400 Ofj
68
BANKRUPTCY.
BANKRUPTCY.
1. A morchant failed witli liabilities amounting to $7oOO()
and assets amounting to $27(XX How many e^nts can he
pay on the dollar? What sum will he i.ai.l to a creditor
whose claim is $675 ?
^,'ll '^"^^ ^- Thompson failed with assets amounting to
«.-i«>K) and liabilities amounting to $12050. How inuch will
each creditor receive on the <lollar if the expenses of the
assignment are $1 '^8 ?
3. The assets of a bankrupt firm amounted to $375. Thov
owed A $1260, B $3275, C $980, D $175, and E $310. If the
expenses of the assio^nment amountecl to $181. what will
each creditoi- receive ?
*..«;. t/'"'"^^"^ ^^'^""'^ ^'^^' liabilities amounting to
$3674.24. If they were able to pay 87J cents on the dollar
and the expenses of the assignment, amounting to $126.40,
what was the amount of their assets ?
o. A firm failed with assets amounting to $7860 Thev
owed A $1750, B $3275. C $5280, D $1695. If the expenses
of the assignment amounted to $(J0, Avhat did each creditor
receive? How many cents on the dollar did the estate
pay ?
<i. A firm faile<l with liabilities amounting to $4000
SZ ^""''^ t^^' ''"'" '"^^ •■"' ^^''^' ^^'« '"^'-^ «f g«o<l« for
$2860, and there was $480 collect - „n notes. If the ex-
penses of the assignment amoun'-ed to .n'.)0, how many cents
on the dollar did the estate i)a,y ?
7. A mei-chant failed with liabilities amounting to $4500.
His assets, exclusive of real estate, amounted to $2075. If
BANKRUPTCY. gg
the expenses of the assignment amounted to $150, and the
creditors received (55 cents on the dollar. What did the
real estate sell for?
a A bankrupt firm is able to pay 37 J cents on the dollar,
provided there is no expense in winding- up the estate. The
expenses of the assignment were «275, and the estate was
only able to pay 25 cents on the dollar. What was the
amount of the liabilities ?
. t^«^g«/«hnson&Co. failed with liabilities amounting
to ^000 and ass ts an.ounting to $2090. 90. If the expenses
of the assignment are U % of the amount distributed to the
creditors, how much will each credit<.r receive on the
dollar ?
10. A bankrupt firm presented the following statement to
their creditoi-s :
^^^^T^^- I LIABILITIES.
Mdse. on hand $3000 Bills payable .$5800
Real Estate 2000 ^ Personal accounts duo "
-tes on hand 1750 creditors . 4200
Ai ^ounts 2G00 ■
The firm offer a settlement of 70 cents on the dollar. It is
estimated that the goods would sell in bulk at 75 cents on
the dollar, that the real estate would sell for $2000, and
that the notes and accounts are worth 80% of the' face
value. If the expenses of disposing of the proix^rty and
winding up the estatv would amount to $200, shouM the
creditors accept the offer? If the cnxlitors wound up the
estate, how much would e cch creditor receive on the dollar?
70
PARTNrmsjnp,
PARTNE^ISHJP.
B $2o00. If gams and .o,^ ^,^^ ^, y^ ^jj^.- j^^ .^
drvMed?""' """''^'' "''"' '^"'''^ " ^^"^ of $1000 be
«io'-^' ^,^"1^ ^"§^^g^«^ >» *"wi»««H, A investing $1750 B
« 9a0, and C $1000. If gai„« and lo.,.eH were to le divided
^^T^Z^^r'^ ^"^-^^^' ^"- ^^-^^ ^ ^a^n Of
a Jones and Bro™ ent,,,,-! i„t„ portnorehip Jones in
snouia receive for his service*- «l9nn „ i t.
a2000 Af vv, • 1 " , **'^^''^*'' '1^'^ a year and Brown
S^OOO At the end ot the year ii: wan found that their gain
wTriTbJ f^ ^""^^ *^' ^'''''«' ^^ ^-- -'^ 'o'^s
T 1^ .V, '''^ "" Proport,lor, t^ capital invested, how
should this profit be divided ?
$9^"^' A^. r^^ ^. ^r'""^ ^ partnership, each investing
the end of 9 months B withdrew. $m. U was found 7h!f
the. net ,ain during the year an.ount<,d JZ^^l^X
vested, how should this gain })e rlividiwl ?
5 Beatty, Smith and FerguHnn formed n partnership
Beatty invested $2000 for six r„<.„th«, Hm. h $150^tr 9
months, and Ferguson $1000 rr,r 12 mont.im TTnl V Z
gain of $3000 be divided y ^ "'""t,ns. How should a
<). A invested $3000 for 12 n'.
and C $1500 for 10 mon^'is, i
■uit as manager at a sala?
^•«,'R $2000 for 8 months.
wan agreed that A was to
^) tt year, and that B was
.0 take charge of the ,..M at a "alary of ,1200 a year.
PARTNERSHIP,
71
Their total gain during the year, exclusive of salaries,
amounted to $0000. How much should each receive ?
7. A and B formal a partnership, each investing .S3000.
At the end of 8 months A withdrew $2500, and at the end
of 10 months B withdrew $1500. At the end of the year
their resources were $7550 and their liabilities $2750. If the
gains and losses were to be divided in proportion to capital
invested, what was each partner's gain ? ^
8. A, B and C formed a partnership, investing in the pro-
lx)rtion of 3, 4 and 5 respectively. At the end of six months
A withdrew J of his capital, and B | of his capital At the
end of 8 months B withdrew f of his capital. If gains and
losses were to be divided in proportion to capital invested,
how should a gain of $3000 be divided ?
a At the end of a certain year the assets of a firm
amounted to $7500 and their liabilities to $2500. The three
partners invested in the proportion of 3, 4 and 5. If the
net gain during the year was $1200, how much did each
partner invest V
10. The assets of a firm of two partners at the end of a
certain year consist^ of cash $2000, bills receivable 81500,
personal accounts $1200. Their liabilities were, bills pay-
able $1200, and pei-sonal accounts $2500. If the total gain
during the year was $2500, and neither partner made any
withdrawals, find the insolvency of the firm at the begin-
ning of the year.
11. A, B and C entered into partnership, A investing t of
the capital, B I and C f. At the end of six months A with-
drew I of his capital, B J of his, and O J of his. At the end
of the year their assets and liabilities were as follows:
Assets— cash $3000, bills receivable $2150, merchandise
$1750, and personal accounts $1000. Liabilities— bills pay-
able $2000, and personal accounts $1200. If their not gain
72
PARTXEUSFUP.
vest . \\ hat was each partner's share of gain ?
12. A and B engagal hi business on Jan. 1st, 1891 each
nvvestn,, ..000. On Mar. 1 A invested SlOOo'additira,
.1?^^^!/"'^"''^^^ *'^^^^ additional, and on Oct. 1 he
Withdrew ^3000. On June 1st B invested $900 additional
and on Sept. 1st he invested SHOO ad.iitional. If gains an.l
osses were to 1. .livided in proportion to oapitarinveste<l,
Jiow should a gain of )§2400 be divided ?
la .Jones and Bi-own engaged in business on Jan. 1st,
S Tl 1"^"^^'"^«;^*^^*'- On Mar. 1st Jones invested
8.-^000 and Brown withd,-ow mmi On A,.- i.. Ton.-
withdrew SiOO) an<l Brown invested SlO(>0HgaLf^^^^^^
lo^es were to be divided in proportion (o capital ^invest,
liow should a gam of !!i!2n00 be divided ?
14. A. B and C entered into partnership on .Tan. 1st 1891
A investing .^2.500, B .1^2000, an.l (! SirxX). On Mar 1st A
mvested mm^ additional; on July 1st he invested .^2000; on
On T f fVn'"''^^ '^'"''' "" """^ ''' h« -i^^^^r^- ^:W..
J^^^ t"""'""'''^ •^-'^" auditional; on Oct 1st he
withdrew Uim. On.rulylst. Aug. 1st. and Sept 1st r
mveste.1 .$.00 additional. On Nov. 1st he withdrew .$KX)0
How should a gam of S8200 be divided ?
15. A, B and C formed a partnership on .Tan. 1st, 1891
It was agreed that they sho,ild invest e-piallv and share
equally m gains and losses, interest at 8 % to b; allowed on
the excess and charged on the deficiency of each partner's
miun^ investnient. On .Tan. 1st A invested $3000; on
S'o^"ndd-t 7^^^^-^"/^^^' -d on Oct. 1st he invested
J800 additional. On .Tan. 1st B invested .S2509; on Oct 1st
he mvested $500 additional. On Mar, 1st, B invested .$2500
How should a gain of $;}000 be divided ?
lst';89t"'^T.''"'^^'^'''/''''''^ ^"*^ partnership on .Tan.
1st. 1891. It was agreed that Griffin should contribute § of
PARTNERSHIP.
78
the capital and Drake .\, interest at 10 % to be allowed on
the excess and charge<l on the deficiency of each partner'^
reciuireci investment. Gains and losses were to be divided in
proportion to the reciuired investment. On Jan. 1st, 1890,
Griffin invested $2000; on Mar. 1st he invested $100o' addi-
tional; on July Ist he withdrew $500. Qn Jan. 1st Di-ake
invested $2500; on Nov. 1st he invested $1500 additional
How should a gain of $4200 be divided ?
17. Lennox, McGre^ »r and Gardner entered into partner-
ship on Jan. 1st, 1890. It was agreed that Lennox should
invest } of the capital, McGregor .\, and Gardner J,
interest at 12 % to be allowed on the excess and c-harg^l
on the deficiency of each partner's recjuired investment.
Gains and losses were to be divi-led in proportion to
the required investment. On .Tanuar^ 1st Lennox in-
vested $2000; on March 1st he invested i^lOOO addi-
tional; on July 1st he withdrew .$500; on . » oer Ist he
withdrew $500. On .Tan. 1st McGregor invested $1500- on
Oct 1st he invested $1000 additional. On .Tan. 1st Ganiner
invested $1800; on Sept. 1st he invested .i«200 additional.
How should a gain of $1500 be divided '?
18. A, B and C formed a partnership on Jan. 1st, 1889.
It was agreed that they were to invest e<iually and share
equally in gains and losses, interest at 10 % to be allowed
on the excess and charged on the deficio^ov of each part-
ner's required investment On Jan. Isi ; iiivested $800;
on Feb. 1st he invested $200 additional; on July 1st he
withdrew $3iX); on Oct 1st he invested $800 additional. On
Jan. 1st B invested $900. On Jan. 1st C invested $1300; on
Aug. 1st he 'withdrew $()00. At the end of the year the
firm's assets exceeded their liabilities by $2000. How much
was each partner worth on Jan. Ist, 1890 ?
19. Jone^ and Brown entered into partnership to do con-
tracting. Each partner was to receive $1.50 a day for every
day that he worked. Gains and losses were to be equally
h
PAitrNUKsriip,
JIA'
m
'i
* »3
timmi
Mcl Dunng tho year Brown paid for ma(,. rial, etc.,
>^oM, ami Joi.o. paid J?19r,0. Jones collected «H<{75 and
Brown collected S2950. If Jo„o. worked 298 day.,' and
Brown J47 dav. ^ow .ho.ld tho partner. ad,.t their
20. A and B formed a partno.vhip. investing e.|ual1y, and
agreeing to share eci„nlly in gains and losses, ft was agreed
t^.at A should receive a salary of ^1200 a year, and B S900
(.was employed as book-keeper at a salarv of $10(K) a year
At the end of the year it was found that\heir gain, exclu-
sive of salaries, was .$2880. It was decided to divide the
proht. How murth of the money should each partner get ?
^i'''?«.'',nn''"^^'^'"*''''^ ^""^ partnership, invesling
§3000 and $2' .00 respectively, and n- -eeing to shan- ains
and losses in proportion to Investments. At the end .>' ^he
year the liabilities exceeded their resources bv .«17o0 j, , ,l
each partner's insolvency at the end of the year.
'22. A and B formed a partnership, each investing $B00i.
and agreeing to share equally in gains and losses. Dnrin.^
the y ar A withdrew .?120, and B .^570. At the end of the
year their net ,^ain was found to be $1000. Their resources
.^'Mm "^'""^ "'' '" '""^^- "-^'^^^''^^'^ ^h-'- "'-^^iHties b;
'^.)100. How much cash had they on hand ?
•>^. A and B entered irto partnership to manufacture
iZo V''''7":''''''^""'''"? "' -' annual rental
of SJOO. B was to do the work at a salary of $2.25 a dav.
A advanced B $. .;). Diirino- tho tto. .. \ # -i i
t ^'"'"^t'lP year A furnished material
at a cost r 37o. and revived from sales .$.i987. B paid
M^f Y>'^ r '"^""^^ '^ ^''^' ^"^' ^^^'^'«^1 '-om sales
mo3 A b...ght irom B a horse for .$175, and from the firm
machinery to the value of $29u. At the end of the vear
they had machinery on hand valued at $570. ifB^uur
t'l ted ?'''''''' '"^ '^' ''"'"''''' ^"^ '^'""'''^ " ^'^"^-^ "*"
PRACTICAL MEAsrUEMFA'T,S.
<•>
PRACTICAL MEASUREMENTS.
(Hcfoi-o taking up tliis subject the Ktudcnt should have a
t liorouRh knowledKC of Square Itoot.)
llrhv. l._To find the length of the hypotenuse of a light-anKled
triangle, the perpendioulur height and the base being given add
tog(.< T the squares of the lengths of th.' 1 wo sides enclosing the
right .ingle, and extract the square root,
Kllk 2.-T0 find the circumference of a circle, multiply the
length of the diuinetcr by y (or more acMJurately, 3.1416).
Ult.b: 3.-T0 find tho area of a rectangle, multiply the length
by the bread! h.
RrLR 4.-T0 Hnd the area of a rhomboid, multiply the length of
the base by the perpendicular height.
lU'i.E 5.-(a|. To find the area of a triangle, multiply the length
of the base by the nerpcndicular height, and divide by 2.
(b). From half the sum of the lengths of the three sides sub-
tract the length of each sde separately. Multiply together the
three remainders and half the sum of the lengths of the sides. and
extract the square root.
Rile 6. -To find the area of a circle, square the radius and
multiply by ^s (or more accurately, .3.14UJ).
KuLR 7.-T0 find the volume of any six-sided figure having its
opposite sides equal and para' ;, and having all its angles . ight
iingles. multiply together the length, bnwdth and thickness.
Rlxe 8.-T0 find the volume of a tj, Under, multiply the area of
the base by the perpendicular height.
Rule 9.-To find the area of any figure enclosed bv straight
lines, divide the figure into triangles and add together the sum of
the arcsas or the triangles.
1. I liave a fielf^ in the shape of a right-angle 4 trianglo.
The lengths of the sides enclosing the right angle are 30
and 40 rods I'espectively.
(a). Find the distance around the field
(b). Find the area of the field in acres.
70
PUAf'TirAL MEANirREMENTS.
2. Find tho area c,f a iwtangular fieM 10 r.).l« 10 vd^
long by H2 i-ods 10 yds. 2 ft wide.
2J. Find tho aiva in acres «f a circular racocoiusp l of a
mile ni diameter. "*
4. What is the vahie of a pile of wor.l 4 ft. wide, KiO ft.
long, and 2 yds. high, at $1.50 a ooivl ?
5 What quantity of iumW will be re^iuired to enclose a
bm dn>g 80 ft long. 40 ft. wide and IH ft. high, the height
of the gables being 15 ft. (four walls and roof) ?
<J. ITow many thousand bi-icks, each 8 in. x 4 in x n in
will be miuiml to^ build a wall 10 ft. wide, 20 ft. higT^ and
HO ro<ls long, making no allowance for mortar ?
7. How many gallons of wat^r will a cistern hold 5 ft
square and 89 ft. deep, if 84;^ cub. in. make 1 pint ?
. , t "" V '"""""^ ^'^"""' "^ '^''*^'' ^^"^ ^ "'^^'''^l'-^^- «i^<^'-n hold
oh ft m diameter and 20 ft deep, if M^ cub. in. make 1 pint ?
a Whuh will hold the more, a square cistern oi ft in
diameter and 18 ft deep, or a circular cistern of ft in
.hamet^r and 18 ft deep ? If 84^ cub in. ecpial 1 pint, how
many more gallons will the larger cistern hold ?
10. Find the value of a walnut boanl 10 ft. Ion- '>3 in
wide at one end and 18 in. wide at the other, at'^do pei-
thousand feet ^
11. What will it cost to enclose a sherl 24 ft Ion- lo ft
wide and 8 ft high at one end and ft high at thr otier!
with lumberworth $25 por thousand feet (walls and roof)?
12. Find the cost of carj^eting a room 80 ft long and 25
ft wide, with carpet 25 hy. wide, and cost 05 cts. a yd.
18^ A circular rac^ourse, I of a mile iu diameter, has a
track ai-ound the inside 22 yda wide. How many acres does
the track contain ? "^ *^iesuoes
PnACTirAL MEASrURMENTS.
77
,
14. What will it cost to plaster the four walU of a room
80 ft. long, 20 ft wi.le, au.l 10 ft high, at KJ cts. a s.niaro
yani, allowing ^ f„r doors and windcjws ?
I-^ A cow is tethered witli a rope 4.5 ft. long. Over what
area oan she graze?
10 At «80 i)er thousand feet, what is the value of 10
l>oanls, each 18 ft. long, 10 in. wide at one end and 8 in
wide at the other ?
17. How many cubic feet are containe«l in a stove pipe (J
ni. in diameter and 40 ft lono-v
la What will be the cost of carixiting a room 45 ft. long
by Jo ft wide, with carixit 2(J in. wide, and .costing «1.80 a
yard ? "
19. A and B start from the .same place, A going due
north and B due east. If A travels at the rate of 3 miles
an hour, and B at the rate of t miles an hour, how far
apart will they l)e in 12 hours ?
20. A room is 80 ft long, 20 ft wide, and 10 ft. hi^^li.
How many yards of paper 27 in. wi.le will it take to cover
the four walls and ceilino- ?
21. A gallon measure is (j inches in diamet<^r. How deep
is it. if 34;^ cub. hi. e<iual 1 pint ?
22. A wheel is 22 inches in diameter. How many revo-
lutions will it make hi going 3 miles?
23. How many sciuare feet are contained in the four walls
and ceiling of a room 14 ft long, 10 ft wi.le, 8 ft. hi-h at
one end and -7 ft high at the other.
24. How many posts are required for a fence around a
circular field 14 rods in diameter, if the jwts are placed G
ft apart ? How many thousand feet of boards will it take
to enclose the field with a fence 8 ft high? How many
acres does the field contain ?
78
PRACTICAL MEASUREMENTS,
111
I k I
m
25. A circular forfc is 100 ft. in diameter. Finri the cost
of paving an asphalt walk G ft. wide around the fort at SI. 80
a square yard.
20. The sides of a triangular field are 30, 40 and 50 rofls
resjiectively. How many acres does the field contain ?
27. How many yarrls of wire will be required to enclose a
retangular field 40 rods long and containing 5 acres, if there
are 5 wires in the fence ? How many thousand feet of
boards, each 5 inches wide, will it take to enclose the same
field, if there are 5 tier of boards ?
28. What is tho shortest string that will reach from any
one point to any other point of a room 40 ft. long. 30 ft.
wide, and 10 ft. high V
29. The front of a house is 40 ft. wide and the side 30 ft.
wide. The distance from the ground to the bottom of the
rafters is 14 ft. . and the gables at the sides are each ft.
high. At the roar of the house there is a kitchen extending
the whole length of the house and 14 ft. back. If the
kitchen is 12 ft. high at the front and 9 ft. high at the
back, how much will it cost to paint the house at U cts. a
square yard (no allowance for windows) ?
30. How many bricks will be required to build a wall 40
ft high and 120 ft. long, if for every foot in height and foot
in length 14 bricks are required ?
31. The height of a wall is 50 ft. A ladder is placed
against the building, the foot of the ladder being 30 ft from
the foot of the wall. If the ladder reaches within 10 ft. of
the top of the wall, find the length of the ladder.
32. I have an irregular four aided field ABCD. Tho
length of the side AB is 50 rods, of BC 30 rods, of CD 55
rods, and of AD 45 rods. The distance from A to C (throu-^h
the field) is 50 rods. How many acres does the field con-
tain ?
,
GENERAL PROBLEMS.
79
GENERAL PROBLEMS.
Simplify
..
+ 1^.
2. If § of I of a field is worth i of | of ^^ of $10, what is
the value of .7125 of the field ?
3. A horse and carriage are together worth $1760. What
is the value of the carriage, if the horse is worth | of the
value of both together ?
4. If 3 men can dig a trench 16 rods long, 4 ft wide and
4 ft. deep, in 9 days, by working 8 hours a day, in how
many days of 10 hours each can 4 men dig a trench 5^ ft.
wide, 100 ft long, and 4 ft deep ?
5. At what per cent above cost must I mark goods, so
that I can allow a discount of 25 % on the marked price,
and still make a profit of 20 % on the cost ?
6. Find the simple interest, at the rate of 7 % per annum,
on $760 from Mar. 80, 1879, to .July 1, 1830.
7. Find the compound interest or. $140, at the rate of 8 %
per annum, from Mar. 1, 1889, to Feb. 21, 1890, interest
being added quarterly.
8. On a note for $7500, dated Nov. 6, 1890, and bearing
interest at J;he rate of 12 % per annum, the following pay-
ments were made: Sept 12, 1890, $20; Dec. 30, 1890, $25;
June 1, 1891, $120; Sept 16, 1891, $2000; Dec. 1, 1891
$500. What remained due Mar. KJ, 1892 ?
9. On .Tuly 6, ISOl, I owed $1500 at the bank, and only
had $760 to apply on the debt I discounted a note for
$500, dated July 1, 1891, at 2 months, at the bank, at the
80
TtExeral problems.
rate of 10% per annum, and drew an accommodation note
at UO days for such an amount that, when discounted at the
bank at the rat. of 10 % per annum, I was able te meet my
obligation and have $oO remaining. What was the fac^ of
the accommfxlation note ?
anTJ t'^ t".^"'^'^ "" '"'"''^^" cistern B ft in diameter,
anJo sufficient depth to hold 2(J93 gal. of water. How deep
must I make the c.stern, if U^ cub. in. are equal to 1 pint ?
11. 81000,0^0, St Thomas, Out., Nov. 1st, 1891.
Ihree months after date I promise to pay George Brown,
or order, at the Imperial Bank, here, One Thousand
Dollars, w.th mtert>st at the rate of Eight per cent, per an-
m|!,, . ,. J^"'"^ .Tones.
iiie note was discounted I>.c. 12, 1891 at 10°/
(a). Find the present wortli, using bank discount.
^ ' true "
z^:'^^:^jz "^'^^ ^!-'^ ^^ii«^' -1 with the
If I paid 1%
proceeds p.xrchased 3^ of stocks at 57^. ,, , pa^.i ^ y
brokerage in each case, how much is my income increased ?
13. Find the expiated date for the payment of the balance
oi tne folloAving account:
— ?^- _____Edwaudj1nderson. Cr.
M^. fTomdse.^d..2^|(X),i! May 12:By cash. I 2^!(£
M^vl^ " f'^'i'ffim l-i^r l'"«otelOdi:100 00
Jiay i.. 1 ^n. I 800 00 ' .Tu v 8 "cash -^(^ind
JuneK) " net.,l(X)()0l ' [ ' ^^^^
U On Mar. 12, 1891, I borrowed a sum of money on my
note beanng naterest at the rate of 5 % per annum. On May
dl, 1891. I paid 8637 as principal and interest. What was
tlie face of the note ?
15. How many yanls of cari,et. 27 inches wide, will be
requu-ed to carpet a room 40 ft. 8 in. long and 31 ft G in
wide ? . "I.
I
CrEXERAL PROBLEMS.
81
16. An insurance agent accepted a risk of $18000 at |%
premium, reinsured ^ of the risk in one company at | % pre-
mium, and ^ of the remainder in another company at | %
premium. What did the company gain or lose by reinsur-
ance ? What per cent, premium did the company net on
the remainder of the risk ?
17. Two pulleys, 7 inches and 4J inches in diameter re-
siiectively, are connected by a belt. If the larger pulley
revolves 3150 times hi a minute, find the rate of the smaller
pulley.
18. On Mar. 1 a merchant sold an invoice of goods for
8360 on two months' credit. He received a note for the
amount, bearing interest at the rate of 8 % per annum. On
April 3 he discounted the note at a bank at 10 % . How
much did he receive ? How much would he have received
had tlie note been discounted bj' true discount ?
19. Find the duty on an importation of watches valued at
£200 10s. 8(1, at 10% ad valorem.
20. A grocer bought sugar at $8 a cwt. Suppose 4 % to
be lost in handlin^c- how many lbs. must ho give for a dol-
lar so that he may make 'i profit of 1-2 % on the cost of the
whole.
21. Find the value of a triangular field, whose sides are
30, 40, 50 rods in length respectively, at .filO an acre.
22. I remitted to my agent .S.')08.95, to invest in potatoes,
after deducting all expenses. He paid §16 for bbls. , *38. 60
fordrayage, and charged 2i % commission for buying. How
many bbls. did he buy, at «2.25 a bbl. ?
23. A man bought 24 shares of stock at IH-^. and sold
the same at a. net profit of !§27. At what quotation were
they snid. lirnke^'no'" "i linfili nn^ci 'iy^^U-^n- i o/ 'J
_., ... ,.„ . ,,._^ ^ ^.^^ ,
24. On a note for $4500, dated Mar. 1. 1^89. and l)e.aring
interest at the rate of 6 % j,)er annum, the following pay-
ri;
I ■;■'*■
IWt >
I*
''' 1
82
GENERAL PROHLEMA
ments were made; April 10, 1889, §300; Sept. fi, 1889, $10-
Mar. 22, 1890, .^100. What remained due Mar. 1, 1891 ? '
•2">. A firm failed, with liabilities amounting to $1200
and assets amounting to r>83.10. What dividend can they
pay on tlie dollar, if the expenses of the assignment ai-e /^
% of the amount distributed to the creditors ? What amount
will a creditor n^^-eive who has a claim of *3(J0?
2f5. For what sum must a note l)e drawn at (50 days. s„
that when discounted at a bank at the rat^ of 10°/ t)er an-
num, It will profluce $172.30?
in'widy'n^ir;*'^' ^^^^ ''' ' i"«^'-^'-anls.. 10 ft. long and 10
in. wide, at S2.) jK^r thousand feet V
28. A c.an cut j^ of a cord of woo 1 in 2:-] days. B can out
o a cord n ^ of a day. In what tim^ c^ thev ^ s'
conls, working together ? - •'
coUectmg, however, S of the accounts wem found to be
liaAc lost 20^ on sellmg price of the second lot. What was
my gam or loss per cent. V '
30. A commission merchant charged .«S7.20 commission
U>r selhng a^consignment. If his .-ate of commissir ZJ
%, how much did he remit the shipper ? "^
31. At what price must I mark goods which cost $10 20
a yard so that I ean allow a discount of 10 y on the
marke. pnce and still make a profit of 10 % on est, alio !
^ng 10 % of sales tfj lie barl debts?
32. What will he the cost of a bill on London f(,r £10 8..
t>d. , exchange lieuig .piote(i at 8 % premium ?
33. I buy jK^ns for f>0 ctB. a gross, and sell them at the
^ate of h pens for 5 .ts. What per cent profit do I make ?
c
t
ftM.', Ji\' i^
CtEneral problems.
83
}
^IL """^ mast a house be insured which cost
^6m so that in case of loss I may obtain both the price of
the house and premium, if rate ot premium is 2J % ?
BT). A merchant buys a quantity of syrup for S1512. Bv
rT^^L'' ^""^'^ '"^^'"'■''' ^'^^^ bymarkinghisgoo<isata
profit of 20%, his gain is S(;04.80. Find the size of the
measure.
30. I bought 32 shares of (5 % stocks at 101^, received a
ha f yearly dividend, and sold out at par. What did I -ain
or lose, if brokerage each way was ^ % ? °
B7. Find the value of a field cor -aining 1728.125 square
yards, at «t0.50 an acre.
3H. A circular cistem is 22 inches in diameter and 7 feet
deep. How many gallons of water will it hold, if 31:^ cubic
inches equal 1 pint V
39. A and B entered into partnership on Jan. 1, 1891 A
nivesting .$2000 and B S3000. It was agreed that A should
receive 3 of the gain and B 3. On Jan. 1, 1890, their re-
sources and liabilities were as follows:
UBSOURCE.S. LIAIULITIE.^.
^^^'^ t2000 Bills payable, outstand-
Bills receivable 1000 ing ^CO
Interest due on same . , 2<) Pei-sonal accounts due
Personal accounts due by firm HO
firm 4(X)
Merchandise on hand . . 4(j80
A bought goods from B for 8120. It was agreed that this
amount was to 1^ paid by adjusting the partners' accounts.
How^much was each partner worth in the business on Jan.
40. Divide 93 eta. among A, B and C, so that B may re-
o^erm 20% more than A, and half as much as A and B
together.
<h^S^;^-M
84
OENEUAL PttOtihEiW.
h
Mi
41. What will it oo«t U, oar]H.t a mom 60 ft. long by 45
ft. wide with cari^t 27 in. wi<l« tm,] vmtiug HO cts. a yard ?
42. In tho above problem, if t\u> mm is 12 ft. hi^h what
will It cost to plaster the four wallx and ceiling at 40 cts. a
s<iaareyarrl. allowing J of tlw. whoU. .pace for doors and
windows ?
«/^A ^^'^'"^^'^'"'^ vnercl.ant hm|1« m bbls. of apples at
Sl.oO a bbl. on a commission of H %, and with the proceeds,
after deducting 2 % for buying, purr^haned certain goods for
his principal. Find the whole o»,o„„t, of commission.
44. A man sold .5 urt.ich* for what artic^les cost. Find
his gain jxn- cent.
45. A farmer sold 50 I ..shelw of whmt for «;^ 24 A part
of the wheat was sold at 80 ctn, a iMiMhel and the remainder
at (.9 cts. a bushel. How many bunhelH were sold at each
price ?
46. The true discount on a c.,rtain mim of money at 8 7
for (.0 days is $82.24. What in thr, bank discount on the
sanie sum for tho same time and ut the same rate of int^T-
est .''
47. I can buy 5% stcn-ks at 79'/. .^ ««/ stocks at Hm.
A\hichmvestment will pnHhice m« the greater per cent of
interest o„ the investment, bmbnuge in each case being
* /o '
48. If Hi men can do a piece of work in 8 days by work-
uig 10 hours a day. in how many .layn can 24 men do a
piece of work three timen as brg«, if they work 8 houis a
day .''
49. A Glasgow merchant shipiK.l b|^ BufTalo agent -oods
invoiced at £100 8s. 4d. The agent jmjd «212 freiWit 88^- V
duty, and advance.! .$102 for other exi^enn^s. He sold th.
go.xls for $1200 cash, and after de<!,u,ting his commission of
0%, remitted the balance to ]m e.nployer by bank draft If
GENERAL PROBLEMS.
85
if
exchange on Glasgow is quoted at 8 % premium, how much
Uid the Glasgow merchant gain or lose by the transaction ?
oO. A firm failed with assets amounting to mm and lia-
bilities amounting to $1250. If the expenses of the assign-
ment are 5 % of the amount distributed to the creditors, how
manj^ cents on the dollar will the estate pay ?
ai^o-^^^^ principal will amount, at simple interest, to
$897.2o at r,% per annum?
52. r mixed 80 lbs. of tea at 50 cts. a lb. with a sufficient
quantity of tea at (50 cts. a lb., so as to make a profit of 25
/o on the cost of the mixture by selling it at 70 cts. alb.
How many lbs. of fiO cent tea did I use ?
5B. A and B agree to pay their travelling expenses in the
proportion 2| to :H. If they each pay $36.60. how much
should B pay A ?
54. Find the cost of fencing a circular racecourse 210 rods
in diameter, at 50 cts. a rod.
55. How many bushels of oats will be required to sow a
field 40 rods long by 30 rods wide, if it requires 1^ bushels
of oats to sow 1 acre ?
56. A commission merchant sold flour, and after deduct-
ing B % for selling and 2 % for buying, invested the proceeds
in apples at $1. 25 a bbl. If his total commission was 8485
how many bbls. of apples did Iw. buy ? '
o7. I drew an accommodation note at 90 days for a suffi-
cient amount to realize S1260,when discounted' at a bank at
the rate of 8 % per annum. What was the face of the note ?
For what sum should I have drawn the news to realize $1260
when discounted by true discount ?
58. Find the cost of papt^ring the four walls of a room 86
ft long, 2<>- ft. wide, ana 10 ft. high, in which there are
tnree windows 3 ft. by t{ ft, and two d(x)ips 4 ft. by 7 ft.,
with pajier ;^0 inches wide, and costing 8 cts. a yard.
86
GENERAL PROBLEMS.
!•
J!: ^wk"/"° '" ''"^^'^' ^^^ ^^^ ^ ^^^° 25% on selling
pnce. What per cent of cost do I lose ?
00. A merchant marked cloth at an advance of 40 y on
cost, and m selling used a yard measure one inch too sh^rt.
What per cent profit does he make ?
01. A jeweller marked goods at an advance of 20 y In
selling however, his clerk gave a lb. avoirdupois wei^t in-
stead of a lb. troy. Find the .ieweller's gain or loss ^r cent.
62. A boy agreed to work a year for $100 and a suit of
clothes. At the end of 8 months he throws up the iob and
receives 860 and the clothes. What were the clothes'valued
63. An insurance company accepted a risk of 81760 at U
% premium, and immediately re-insured | of the risk at U
A premium. What per cent premium did the company net
on the remainder of the risk ?
^^iLn-^T^ T' '''"^^''^' ^ ^^^^-^^ ^" 7 months, and
$376.20 in 9 months. What is the rate per cent ?
65 The exi^nse of constructing a railroad is 825,000,000
One-half of this sum is bon-owed on mortgage at 5J %, and
the remainder is held in shares. The shareholders revive a
yearly dividend of 6 %. If the expense of running the road
LSpts? ^'"' '''''^''' "^'"' '-^^ <^^^ average weekly
66. A dealer marks whisky at an advance of 50 % on cost
He afterwards finds it necessary to reduce the marked price
^0/ mat proportion of water must he mix with the
whisky m order that he may still make a profit of 50 % on
^ 67. A and B entered into partnership, their insnlven.^
oeing m the proportion of 2 to 3. At'the end of the year
thfu- assets and liabilities were as follows:
^
GENERAL PROBLEMS.
87
i>
«♦
LIABILiriES.
Notes outstanding . . .$200
Accounts due by firm, 150
ASSETS.
Cash on hand, $2G0
Mdse., 540
Notes and accounts, . . 200
During the year A withdrew $160, and B invested i|80 addi-
tional. If their net gain was $1500, what was each part-
ner s insolvency at commencing ? What is each partner's
present worth ?
68. A farmer buys a triangular field, ABC. The length
of the side AB is 50 rods 10 ft, and of the side BC 40 rods 4
S*- y^^ '^^^<^ance from A to the nearest point in the line
BC IS 30 rods. How many acres does the field contain V
69. A note for S1200, dated Jan. 1, 18P9, and bearing in-
terest at the rate of 10 % per annum, has . lorsed on it the
following payments: Mar. 11, 1889, $300; Sept 3 1889
$20; Jan. 2l, 1890, $100; Mar. 3, 1890, $150. What re^
mained dne Dae. 23, 1890 ?
70. A merchant buys coal oil at 20 cts. a gallon, and
mixes 1 gallon of water with each 5 gallons of coal oiL He
sells the mixture at 25 cts. a gallon, using a gallon measure
one-half a pint too small. What per cent, profit does he maki!?
71. A and B entered ato partnership to run a flouring
mill, A owned the mill and rented it to the firm at $350
per annum. B was employed as miller at a salary of $475
a year. It was agreed that A, who owTie<l a t^am of horses,
should receive $3 for every load of flour drawn from the
mill. Dunng the year B received $375 from salas at the
mill A drew away 50 loads of flour and received from sales
$37o0. A paid for wheat, eta, $1050, and B paid $496. B
paid sundry expenses amounting to $65. A advanced B
$400. At the end of the year they had on hand wheat, flour,
ote., amounting to S950, and accounts amounting to $275
How should a se>^9ment be effected ? If A purchased B's
interest in the biAiuness, how much should he pay him ?
88
It:'
ANSWERS.
ANSWERS.
COMMON FRACTIONS. (PAGE 7.)
(1) 205. (2) 1208jV, acres. (3) S.im 294; difference 41 :
product 208i; quotient IJ. (4)83.281. (5) I923g bushel'
(0) M of a ]b. (7) mm,^,. (S) 8S7.03. (9) 393j« lbs.
(10) li? days. (U) eS of the cargo. (12) ^ of a lb. (13)
3y minutes. (14) 5,^„ days. (15) The f. rmer; 8|5 J cents,
(lb) U' (17) Lot cost $704; house cosi .$1056. (18) 7*
days. (19) First year, $1(54; second year. 8J24f5 (';'0) r,-,o
(21) $311876.75. (22) 7 boys. (23) A f and B ?. (24 1 of
the farm. (25) 48i3« miles. (26) ^i, of money." (27) X of
a dollar. (28) 281 lbs. (29) 14y houT-s. (30) A has 35 cts. ;
B has 56 cts. (31) 1,% ^lays. (32) 72 miles from St.
Thomas; 20 miles from St Thomas. (33) Each boy has 10(5
ac. 8 roods 20 rods 6 ft. ; each girl, 53 ac. 1 rood 30 ro.ls 3 ft
(34) .$83.70. (35) 1,4 acres. (36) $9. (37) A 45 cts. ; B 30
cts. ; C 20 cts. (38) A 87 cts. ; B 96 cts. (39) $6 08 - (40)
2\ of cost. (41) $585. (42) D paid $84 more than A. ^ J)
^.40. (44) 120 miles. (45) Jij of proj^rty. (46) A $1.24 A-
B$.93g'V; C$ .8211. -^'
DECIMAL FRACTIONS. (PAGE 12.)
(l)156.5(Jo431bs. (2)15.00984. (3) .036768. (4) .580064
(7) $ .390620. (8) .40625; .34375. (9) .5625 of tho farm
(10)28.0395. (11) $2.99. (12) 5.(5511 days. (13)1.119879.
(14) $3(i9. (15) $5610. (1(5) 29.085; .50.1. (17) $18.18 -. ,
(18) A had 156.00875 acres; B had 167.94625 acres. (19)
190.125 miles. (20) 8,59375 cents a yard. (21) $960. (22)
.05625 of invoice. (23) .148129; .73177. (24) .8640625 of
ANSWERS.
89
i
farm; .1359375 of far.n. (25) .2421875 of money. (2tf)
.59%2u too .small (27) 81875+ revolutions. (28) 5ft 111 +
'a?!"!!; . f '^^ ^^ ^^- ^^ "^^'^ *^ «^ (30) 4. 5714 + weeks.
(31) 814.4.,+. (32) 12.43+miles. (33) .0125; ,^„. (34,
1 he quotient is 3i< i.nes greater than the product (35,
;5!22l.079+. ^ '
DENOMINATE NUMBERS. (PAGE 15.1
(1) £31 Us. 4d (2)828.60. (3) $2.55. (4).S5.44. (5)
8I3.78+. (0) 15 inches. (7) .$23.15-. (8)!S53.«>2- (9)
2112 revolutions. (10) 14 bus. 2 pks. I gal. 1.^ pts. (11) 413.
doz. (16) H boys. (17) 1(5 cents. (18) $4.73'! (19) 1 mi 3
fur. 19 rods 3 yds. 2 ft. 8? in. (20) £19 14s. (if «d; $3<J. 13.^
(21)245bottIos. (22)i|13..50. (23) 750 days; 2.552 minutel
(24) 44 days. (25) 13 1 1 bushels. (2('.) 2(M-) acres.
PERCENTAGE. (PAGE 17.>
(1).S819. (2) $113.40. (3) 443.52 acres. (4) $7344. (5)
fn %. («) 7m %. (7) 21.^ %. (8) 12^ %. (9) 3280
Flinch. (10)4Hr^. (11)24000. (12) House cost $2402.-
oO; lot cost $1937..50. (13) Horse cost $105; buggv cost
3125. (14) $26728. (15) .50%. (16) A has 58.^2:6 has
4l<?%. (17)64^^%. (18) 12.50 lbs. (19) $204(5.32-. (20,
$125. (21)17f%of wages. (22) (56. :j % of cost (23) First
year's sales. $9792} J4. sec(md years sales, $11424}f8- third
year's sales, $10282,VV (24) A has $210; B has' $315
(25) $1.82. (26).$43<5.2(). (27) $(5. (28) 27i in .junior class;
22 m senior class. (29) $693. 75. (30) A had $2937 50- B
had$2350. (31)24000. (32) A has $3.05- ; B has $7.62+ •
C has $17. 16--; D has $19.30-. (33) $3600. (34) $1250.'
(3o) 1499«g^. (36) He would have lost $100. (37)504/.
PROFIT AND LOSS. (PAGE 21. >
(1) $15.(52. .2)35^%. (3)25%. (4) 80 cts. (5) 6^ %.
(10) 34 cts.
(6) $ii\- (7) $19. (8°) $37.20.
(9) 1U%.
IMAGE EVALUATION
TEST TARGET (MT-S)
k
//
^/
^ .^\
,V
.^
^v ^'^/^
/
f/.
&
1.0
I.I
am
£ us
IIIIZ
11:25 i 1.4
2.0
18
1.6
jlIj
Sciences
Corporation
33 WEST MAIN STREET
WEBSTER, N.Y. 14580
(716) 872-4503
iV
V
<^
>
•Pl.^
90
ANSWERS.
(11) Gained 4%. (12)292»^%. (13) Lost SI'?. (14) $538.30
(15) |4ia50; $223.20. (16) $2704J»,V (17) $4.16S. (18)
12J%. (19) log lbs. (20) $2304. (21) 81^?°/. (22)141*
%. (23)G6^%. (24)4%. (25) 11^ % loss. (26) Lost $83*
(31)20M%' ^^^^^"^^- <2^^^*«*«- (30)12J%;6cts.
TRADE DISCOUNT. (PAGE 24.)
(1) $492.48. (2) $113.40. (8) $138.2.5. (4) $130.37. (b)
8120.25. (6) $123.63. (7)28%. (8)46%. (9) $10. (10)$5.
(11)81.33^. (12) 1 % off; 2 cts. (13)26§%. (14) 25 eta
(lo) $2.oO. (16) $55. (17) $1.80. (18) $125. (19) Lost
48ets. (20) Gained 2 ots. (21) 23 % gain; $2.60 gain. (22)
60%; $2.40. ^ '
COMMISSION. (PAGE 26.)
(1)$9.61. (2)3J%. (3) .$59.28. (4) $288.7.5. (5)625
baskets. (6) $13.23. (7) $6480. (8) $5912.38. (9) 2» %
(10) 64 basketa (11) $3095.50. (12) $ia29. (13) $1.593^V^.'
(14) ^ %. (15) Received $3605 for the grapes; paid $3430
for the wheat (16) 4^ %, (17) $123. (18) $237.45. (19)
$123. (20) $168.87. (21)844?!. (22) 46^*^ cts. a lb. (23
22|3 8ibs. (24)1J%. (2.5)$*50. (26) 75 bbls. (27) Face
of order, $269.65; 3{>^\% cts. a lb.
(1) $1.08,
(6) $2.06.
(11) $1.86.
(16) $10.89.
SIMPLE INTEREST.
(2) $6.72. (3) $1.42.
(7) $18.33. (8) $1.91.
(12) $8.37. (13) $2.69.
(Page 29.;
(4) $17. .50.
(9) $ .38.
(14) $ .97.
(5) $34.34.
(10) $1.50.
(15) $1.25.
(17) $44.98. (18)133.47. (19) $13.73. (20)
$17.66. (21) $10.96. (22) $3151, (28) $8.72. (24) $26 36
(25) $1.47. (26) $1.80. (27) $9.30. (28,S20..53 ^99)^10 84*
(30) $37.20. (31)8%. (32) 97 davs. (88) $760. 4a '(84)
f
<^
i>
f
<»
I
ANSWERS,
91
$480. (35) $7426. (36) Gained 36 cts.
(H8) 12J %. (39) .^1875. (40) 13J years; 14|| years;
(37) Aug. 12th.
.. • ' o ./ 7 — If years; 10
years. (41) April 18, 1891. (42) Second offer; tbii-d offer;
second offer. (43) $1876.27^. (44) V- (45) $250. (46
8720. (47) Gained $4.68. (48) $666.97. (49) $91.18
COMPOUND INTEREST. (PAGE 32.)
(1) $927. (2) $593.10. (3) $810.15. (4) $347.77 (5)
$-455.87. (6) $71.71. (7) $40.54. (8) $10.70. (9) $128.99
(10) $160.03. (11) $2.88. (12) $16.98. (13) $578.85. (14*)
$73.83. (15) $1264.42. (16) $883.85. (17) $110.42. 18
$1858.87. (19) $246.33. (20) $13.77. (21) 10. 38+ per cent
(22) 3 years 9f ma (23) Gained $63. (24) $450. (25»
$51.84; 107,«,%. ^'^^
PRESENT WORTH & TRUE DISCOUNT. (PAGE 34. >
(1) $541.43; $2.17. (2) $279; $2.17. (3) $564.58; $21.17
(4) $275; $9.90. (5) $162; $4.50. ((i) $1476; $105 78
Itn *«^; 5f •^^- <^^ ^122; $18.86. (9) The first offer!
(10)$737.r3. (11) $126.63. (12) $22.99. (13) $28''0 12
(14) $602.36. (15) $806.16. (16) $602.82. (17) $117 87
(18) $9.78. (19)671.(J8. (20) 58 cts ' '
BANK DISCOUNT. (PAGE 36.)
Jl! ^"T'/' ^^^^' ^^ ^^y^' ^**'^5 $445.05. (2) April 24,
1889; o4days; $272.52; $272.55. (3, Jan. 15, 1891; 64
days; $491.11; $491.27. (4) Nov. 25, 1890; 10 dLys-
$17o.06; $175.06. (5) Jan. 13, 1892; 52 days; $3709.37-
$B/09.8l. ((i) Mar. 5, 1888; 4 days; $2568.57; $25(58.57'
(7) Feb. 8,1891; 30 days; $2996.82; $2997.02. (8) Aug 7
1890; 37 days; $166.54; $166.55. (9) Julv 8, 1891; 33
days; $1255.65; $1255.75. (10) Sept 19, 1890; 28 davs•
$1476.29; $1476.84. (ll)7cte. (12)1 cent (3) $11.26'
92
ANSWERS.
I
(15) S5.15; $5.18. (16) $9()0.
(18) $13.3.-). (19) $240. (20)
$11.41. (14) .$1.04: $1.05.
(17) r4%; 483 days; !^50.
S720. (2V mo. (22) Fii-st note was drawn at 60 days!
$2522.77. (23) $l(i82.65. (tU) Accommodation note -. .s
drawn at 30 days. $1271.83. (2.5) $999.09.
PARTIAL PAYMENTS. (PAGE 40. »
(1)$4!>(U2. (2) .$778. 42. (3)^121.91. (4) Sl-i82.82. (5)
On June 18. 1891. he overpaid the amount due by $158. 16
(6)$130<-i.09. (7) $1774.83. (8) $31.5.03. (9} Note should
read, "Sept. 2, 1889." and "Jan. 1, 1890," $2065.53.
(10) $199.13. (11) Should i-ead. "Dec. 31, 1892," ,$44079.
(12) $906,43. (13) Should read. •• June 12, 1889 " $800 87
(14) $288.9(5. (lo) $2r,.97. ' . • •
STOCKS AND BONDS. (PAGE 43. >
(1) $194.2.5. {2) mm. (3),$;^834. 121 shaim (5)
aa. (G) The latter, by iH %. (7) 6? v .ks. (8, Lost $5.
(9) 88 shares. (10) $3017.50. (11) $32. (12) $(}44. (13)
$3100. (14) 192i shares. (1.5) $(218. (16)80. (17) 8U °/
(18) $100. (19) .$344.50. (20) Increased $40. (21)DecreasS
S181./4+. (22) Gainefl .$45. (23) 36 shares. (24) 8,i °/
(25) $23480; $20 (26) $16. 05. (27) 3^ %; 4g % ?
i
u
FIRE INSURANCE (PAGE 46.)
(1) $10.50. (2) $1280. (3) $191.25; JJ %. ,4) $'^o00-
$1875; $1125. (5) ;| %. (6)31§%, (7) $2200. (8) Gainecl
<57 cents; |^ %. (9) $1728. JlOf $5049.84. (11) i5 % (i2)
$960. (13) .$7.50.50. (14) ^i^m^bTJlb) |« %; $5600; $4480;
$3920. (16) 34 cents. (17) .$20514.36. (18) iiR1440- $96o'
(l»)i%. r20)*i{%; $122.50. (21) $5126.2(5. (22) $5357 14*
ANSWERS.
93
TAXES. (Page 49.)
(I)m40. (2) 121 mills on the dollar. (3)m50. (4)
1^ 1.111s; m40. (5) $12.75. (.i, 7i mills on the dollar.
(0 ,-o of a null on the dollar; $1505. (8) 13^ mills on the
™or^'l ^" ^''^ ^'''- ^''^ ^- -hool purposes,
«i.>o9i.4j(,; f„r general purposes, $15802.584. (12) For gen
eral purposes, $9.60; for frontage, $4.80; for schools,
«510.8U; for sewerage, m.60; total amount, $34.80. (13) 5i
nulls on the dollar. (14) $134. 442. (15) 9^ mills on the
dollar. (1(„ 13 mills on the dollar; $20(5.43. (17) 2 cents
on the dollar; $35; $42.
DUTIES AND CUSTOMS. (PAGE 52.)
Ji\^^?'^'^' ^^^ ^'°* sufficient data given. (3) 93^ cents.
(4S26.10. (5) $49.40. .(6) $6.24. (7) $350. ^8) 90 cents
(J) oO cents. (10) 76 lbs. (11) $97.97+. (12) $50.44. (13)
S.>.0(, (14)$.mf>0. (15) .$1570. 5(}. (16) $88. 17
clJ2. ol — , '
EXCHANGE. (PAGE 54.)
(1) $1204.50. (2) $853.55. (3) $3(J80. (4) £98 19s. 4rd
(o) $72o0. (6) (new par) $4:-380. (7) Should buy bill via
New^ork; via New York, $991.98; direct, $1002.50. (8)
^194' n .v- <1^) Chained £26 15s. Id-. (14) Lost
m,)A,.. (lo) Via London, $228.12; direct, $222.22. (16)
The merchant would owe agent $42. 77. He would therefore
lose this amount together with value of goods.
SIMPLE & COMPOUND PROPORTION. (Page 56 )
(1) $5.94. (2) $1.35. (3) $15.62-. (4) 38 horses. (5)
$lto nminf;"" <'^ ^^^^^^^ <> "^^»- (8) m (9) $16;
.SII.0O. (10) 101 days. (11) $27.72+. (12) $2.01+. (13)
94
ANSWRRS.
*Ai<.oa (22,H0,«. ('28) »m™. (it, «10. 10. ,.,5,70,
mm. ^" ' s
STORAGE. (Paqc 58.)
,,,^'Vf5-*'^- <2)51U.05. (H).S2()t.lW. (4,)^s.5(). (5) $14.82.
(0)$al..2. (7).*.Uf)4. (8)«.5l.5l. (9) .^40.22. (loj »1,Uh.
EQUATION OF PAYMENTS. (Paqc 60.)
(1)10 months. (2)mn (8) 5l nionthn. (4) HH muntl.s
o o months. (U) 13 ^ days. (7) Oct 80. 18f)(). (8) 27 .lavs'
i1a "^J'licf (1=^) O^'^ 22, 1891. (14,Mar.2H.18c„,
(lo) Aug. 2, 1891. (Ki) Nov. 28, 1889. (17) IXx- II |89()
(18) April 7, 1890. (19) Mar. 22, 1890. (od/.rla' !,' Lua!
AVERAGING ACCOUNTS. (Paqe 63.)
(1) Mar. 11, 1890. (2) June 21. 1890. (8) Fob 18 1891
mf^rf is:;- ^^^ «^^^^ 1'^' ^« oVMann'.Z;
(7) Sept. 9, 1889. (8) Jan. 19, 1887. (9) April 2 1891
(10) Aug. 18, 1889. (11) Oct. 28, 1890. ( 2 D 8 8^'
(18) July 18, 1890. (14) Dec. 10, 1887 ^ ' '^^ " '^' ^«'^-
CASH BALANCE. (Page 66.)
(1)S2(J8.78. (2)?J580.o5. (8)^2.77. (4) .*i(l8.2n. (5)
S289.49. ((5).$8.'-.a7f». (7) .$ 101. 25. (8) «812 17
BANKRUPTCY. (Page 68.)
(1) 33 cents on the dollar; .S24.80. (2) 28 cents on the
dollar. (8) A$t0.11; B.$104.25; C«31.20; Dl|o.r.7; I0«9.87.
i il tlayH.
\l <liiyH,
(17)
C-n)
H). (25) 70S
^. (r))i8tM.82.
(l<))}Jl(Ua
BO.)
) Hj< months.
(H) 27 (lays.
iiit^2l, 1H{)().
ar. 2H. IHflo.
«!. II, 1H!H).
ail. a, 1H!>2.
b. 18, 1891.
■r. H. 1888.
)ril 2, 1891.
0. 18, 1888.
0)125. (5)
Us on tho
'; 10*9.87.
ANSWERS.
95
(4)S3B41.mi. (5) A Sill37.;5(); B $2128.75; C «3432; D
J!iill01.75: (i5 cents on the dollar. ((}) Estate can pay 100
cents on tlie dollar and have «2U0 remaining. (7) $1000.
(8) 8i220(). (9) 41 ; oents on the dollar. (10) Creditors should
not accept offer: 79i cents (.n the dollar.
PARTNERSHIP. (PAGE 70.)
(1) A $875; B $(J25. (2) A $1181.25; B $848.75; C $675.
(B) Jones $2430; Brown $2820. (4) A $714.42: B $893.02;
C $9.52. 5(). (5) Beatty $9()0; Smith $1080; Ferguson $960.'
(6) A $3041.79; B $2107.46; C $850.75. (7) A $1233. 90-
B $1566.10. (H) A. $707. 55; B $877. 36; C. $1415. 09 (9)
$950; $1266.67; $1583.33. (10) $1500. (11) A invested
$2400; Bmvested $1200; C invested ,$2400; A's gain $412.50;
B's gain $229.17: C's gain $4i58.33. (12) A $1178.40- B
$1221. 60. ( 13) Jones $1250; Brown $1250. ( 14) A $1563.80-
B $955.66; C$(i80..54. (15) Should read. "On Mar. 1 C
invested," etc. A $1033.1; B $1006:^; C $960. '16) Griffin
$2702.78-; Drake .$1497.22 + . ('l7) Lenn. ^921.83 + -
McGregor $1473. 67 - ; Gardner $2104. 5( ». ( 18 $795 56 •
B $694.72; C $509.72. (19) .Tones should pay Brown $219.25^
(20) A $1090; B $790. (21) A's insolvency $10.50: B's in-
solvency $700. (22) Such a state of affairs would be impos-
sible. Why? (23) B worke<i 312 days. A should pay B
$1618. ^ ^
PRACTICAL MEASUREMENTS. (PAGE 75.)
(1 ) 120 rods; 3^^ ao. (2) 8 ac. 3 vooch 19 rcxls 8 yds. 5 ft.
36 in. (3)31vta«. (4) .$13.5. (5) 8920 ft. (6) 842Ui thou-
samL (7) (5075 gal. (8) 3850ii gal. (9) The fii-st by 525A
gal. (10)$1..5(J. (11) $19.82 + . (12) $78. (13) .51* acres.
(14)$13.:^3. (15) 707f sq. yds. (16) |5.40. (17) 7« cub. ft
(18) $43().l5. (19) (iO miles. (20) 237 «»- yds. (21) 9U
(22) 2719 jij revolutions. (23) 500
in.
ft. (24) 121 iM)3ts; 08/5
96
ANSWERS.
thouaandfeet; T^of anacre. (25) $399.77. (26) 33 acres.
(27) 3300 yds. ; 4^ thousand feet (28) 50.9902+ feet. (29)
(!W) 07200 bricks. (31 ) 50 ft. (32) 11.1+ acres^
S3.8(J-.
GENERAL PROBLEMS. (PAGE 79.)
(2) $.7125. (3).S440. (4)2}j|days. (5) (10%. ((}) $00.94.
(7) $35.45. (8) Should read, '-Nov. «>. 1889." $0919.23.
(9) $303.04. (10) 01 ft. 1+in. (U) (a) 100.5.79; (b) IOO6O2'
(12) $25. (13) Mar. 9, 1891. (14) $030. (15) 189J yds.
(Ki) Gained $0.07; fg %. (17) 4900 times a min. (18)
ii!!301.98; $302. (19) .$97.59. (20) 10^ ibs. (21) $150 (22)
184 lbs. (23) $119. (24) $4000.04. (25) 55 cents on the
dollar; $198. (20) $180.71. (27) $1.33. (28) l^days
(29)Lost34Sy%. (30)^952.80. (31) $22. (32) $50.04. (33)
'^^ %. (HI) $:-i092. 31. (35) 6 of a gal. (30) Gained $32.
(37) $14. 4(;. (38) 115^H^ gal. (39) A $2922.40; $4083.00.
(40) A 30 cents; B 30 cents; C 33 cents. (41) $240. (42)
$185.00. (43) $7.35. (44)20%. (45) 34 bus. at 80 cents
and K) bus. at 09 cents. (40) $83.34. (47) The latter by
A%. (48) 20 days. (49) Gained £25 4s. OJd. (50) 48 cents
on the dollar. (51) Not sufficient data given. (52) 45 lbs.
(53) $0.10. (54) $330. (55) 13^ bus. (50) 7532 bbls. (.57)
$1280.59; $1280.04. (58) $10.77. (59)20%. (00)44%.
(01) Lost 10%. (02) $20. (03)1|%. (04)0%. (05) $110570 }|!
(0(i) 1 gal. of water to 4 gal. of whisky. (67) A's insolv, ncy
$308; B's insolvency $402. ((>8) 3 ac. 3 roo<ls 10 rods 27h
yds. nearly. (09) $803. (70) 00 %. (71) A should pay B
$1030.50; $1043.
'^'l acres.
iet (29)
+ acres.
M!f)19.2H.
1006.02.
^n yds.
n. (18)
>0. (22)
' on the
1 1 days.
)i. (i-JH)
ned $32.
4(583.00.
0. (42)
:^0 cents
itter by
18 cents
45 lbs.
s. (o7)
3) 44 %.
0570 }|.
3lVi Ticy
ods 27 i
i pay B