per 5. What sum must a policy be taken out for, to cover $2475, when the premium is 10 per ct. Ans. $2750. 6. What is the premium on $896, at 12 per cent. Ans. $107.52. 7. A certain company own a cotton factory in Pittsburgh, valued at $26,250 for what sum must a policy be taken out, to cover cost and charges at 12) per cent.? Ans. $30,000. COMMISSION. 1. What is the commission on $850 at 6 cent.? Ans. $51. 2. Calculate the commission on $37,702.46 at 5 per cent.? Ans. $1885.12. 3. The sales made by an Auctioneer amount to $209,723; what is his commission at 5 per cent.? Ans. $10,486.15. 4. An Auctioneer's commissions at 5 per cent. on sundry sales in the city of New York, in 1839, amounted to $13,279.58, required the amount of sales made? Ans. $265,591.60. 5. A merchant having $1728 in the Chesapeake Bank of Baltimore, wishes to withdraw 15 per cent.; how much will remain? Ans. $1468.80. DISCOUNT Is an allowance made on a bill, or any other debt not yet become due for prompt payment. The discount taken from the principal leaves the pre.sent worth, or value of a bill, when discounted. Q. By having the present worth, how is the discount obtained? A. Subtract the present worth from the principal, and the remainder will be the discount. Rule.—To find the present worth at 6 per cent., if the time be for years or months; as 100 plus half the months is to 100, so is the given sum to the present worth. 1. What is the present worth of $1333.20, due 1 year 10 months hence? 2. What is the discount of $133,30, due 1 year, 10 months hence? Ans. $13.20. $13.20 discount as required. 3. What is the present worth of a note for $520, due 5 years hence? Ans. $400. 4. What is the discount on the above mentioned note, for $520, due 5 years hence? Ans. $120. 5. What is the present worth of $775.50 due in 4 years, at 5 per cent. per annum? Ans. $646.25. 6. What is the discount of $802.50 at 7 per cent. due one year hence? Ans. $52.50. 7. What is the discount on a note of $117.60, due 1 year hence, at 12 per cent? Ans. $12.60. 8. What is the present worth of $1350, due 5 years, 10 months hence? Ans. $1000. BUYING AND SELLING STOCK. 1. What is the amount of $1564 United States Bank Stock at 114 per cent? Operation. $1564 114 6256 1564 1564 $1782.96 Answer. 2. Sold 15 shares $100 each, of the Marine Bank of Baltimore, at 13 per cent, advance, what is the amount? Ans. $1695. 3. What is the value of 10 shares in the Philadelphia and Trenton Railroad stock, at 85 per cent. original shares being $100? Ans. $850. 4. What must be given for 8 shares in the Baltimore and Ohio Railroad stock at 10 per cent advance, the original cost being $100 each? Ans. $880. 5. What will $1686 corporation notes of the city of Wilmington, Del. be worth at 911 pr. ct. Ans. $1542.69. BARTER. When one commodity is traded for another, it is called Barter. 1. How much sugar at 10 cents per lb. must be given in barter for 750 lbs. of raisins at 6 cents per lb.? Ans. 450 lbs. Illustration.-750 lbs. raisins at 6 cts. is $45. Now the question is, how many lbs. of sugar must we get for $45; divide $45 by 10, and we get 450 lbs.; hence, 450 lbs. Bugar at 10 cts. is equal to 750 raisins at 6 cts. 450 x 10 750 X 6 : $45. 2. Aaron Abel, bought of Ben. Bailey, 6 hogsheads of rum, containing 410 gallons, at $1.17 per gallon, and 253 pounds of coffee at 21 cents per pound, in part of which he pays $21 in cash, and the balance in boards at $4 per thousand, how many feet of boards did the balance require? Ans. $1279571 ft. 3. Richard Rich has 240 bushels of rye, which cost him 90 cents per bushel, this he trades with Peter Parley at 95 cents for wheat, that stands Parley 99 cents per bushel, how many bushels of wheat is he to receive in trade, and at what price is it to be rated in order to make the barter equal ? Ans. 218,83 bush. at $1.043 cts. per bush. . 4. A. has sugar which he barters with B. for 4 cents per Ib. more than it cost him against tea, which cost B. 40 cents per lb., but which he puts in barter at 50 cents, what did A's sugar cost him per lb. Ans. 16 cts. 5. A merchant delivered 3 hhds. of wine at $1.10 per gallon for 126 yards of cloth, what was the cloth per yardi Ans. $1.65. 6. A farmer traded 20 bbls. flour at $5.60 per bbl., for salt at $3.50 per barrel, how many barrels of salt must the farmer receive for his flour? Ans. 32 bbls. 7. How much corn at 45 cts. per bushel will pay for 33 yds. cassinet at $1.05 per yd? Ans 77 bushels. 8. D. Greves has 100 cords oak-wood for sale, worth $4 per cord cash, and is offered $4.25, payable on a credit of twelve months, which is the most advantageous, the cash or credit sale? Ans. the credit by 94 cents, allowing discount at 6 per cent. per annum. 9. A. gave B. 2 hhds. of brandy at 75 cents per gale lon, for 56 yards of cloth, what was the cloth per yard? Ans. $1.681 10. What quantity of tea at $1.30 per lb. must be given for 2,500 lbs. of rice at 44 cents per pound? Ans. 86 lbs. 8 ozs. 11. A grocer had sugar at 8 cents per lb. for some of which, B. gave 750 lbs. of tea at $1.08 per pound, how many lbs. of sugar must B. receive for his tea? Ans. 90 cwt. 1 qr. 17 lbs. 12. John Doe, bought of Richard Roe, 104 tons of iron at $10 per ton, and is to pay as follows, viz: in cash $600, 240 lbs. sole leather at 33} cts. per lb., and 10 loads of coal, each containing 12 bushels at 371 pr. bush. 90 gallons of brandy at the rate of $75 per hhd., and the balance in coffee at 12ļ cents per lb., how much coffee is Richard Roe to receive? Ans. 16624. 13. Two persons A. and B. barter, A. has 17 cwt. of hams at 12į cents per lb., B. has 1400 lbs. cheese at $10 per cwt.; which of them must receive money and how much? Ans. A. $113. 14. A man exchanged 40 bushels of salt at 87 cents per bushel for 200 bushels of oats at 18% cts. per.bushel, how much was the balance in his favor? Ans. $2.50. 15. A farmer sold a grocer 20 bushels of rye at 625 cts., 200 lbs. cheese at 10 cts. per lb.; in payment he received 20 gals. of molasses at 25 cts. and the balance in cash, how much money did he receive? Ans. $27,50. 16. A farmer sold a grocer 15 barrels of apples, each bbl. containing 3 bushels, at 40 cts. per bushel, 30 bush. of corn at 90 cts. per bushel, 500 lbs. of cheese at 8 cts. per lb., 200 lbs. of butter at 15 cts. per lb., 20 bushels of onions at 75 cts. per bushel. In payment he received 4 barrels of Monongahela whiskey, each 314 gallons at 33; cents per gallon, 80 gallons of molasses at 35 cents per gal., 4 bags of Laguayra coffee, each containing 150 lbs. at 10 cts. per lb., what is the balance? Ans. 0. 17. A. has B's note for $535, payable in 14 months, and to redeem it for prompt payment, gives him 160 bushels of corn at 45 cts. per bushel, 122 do. wheat at $1 per bushel, 80 of rye at 90 cts. (market price,) and the balance in brick at $10 per thousand, how many thousand must A. deliver? Ans. 23 thousand. |