ST. 9. I paid $140 for stock at an advance of 10 per cent. How many shares did I buy, the par value being $50 per share ? 10. I paid $879.75 for Weybosset Bank stock at a premium of 3} per cent. How many shares did I buy, the par value being $50 per share ? 11. March 1, 1856, I bought 4 shares of stock at an advance of 14 per cent on the par value of $500 per share. July 1, 1856, I received a dividend of 5} per cent. Sept. 1, 1856, I sold the stock at a premium of 12 per cent. What did I gain by the transaction, money being worth 7 per cent per year? Note.--In examples of this kind, interest should be reckoned on the dividends as well as on the original cost of the stock. a pre 12. A man bought 16 shares of stock at a discount of 24 per share? 14. By buying stock at 20 per cent below par, and selling it for 130. Profit and Loss. near (a.) PROFIT AND Loss treats of the percentage of profit and loss made by merchants in their business transactions. (b.) Most problems in profit and loss come under one of three classes 1st. Those in which the cost and per cent of profit or loss being given, the selling price or the number of dollars gained or lost is required. 2d. Those in which, the cost and selling price being given, the percentage of profit or loss is required. 3d. Those in which, the selling price and percentage of profit or loss being given, the cost or some per cent of the cost is required. (c.) For how much must I sell articles 1. Costing $4 to gain 163 per cent? 2. Costing $7.50 to gain 15 per cent? (d.) How much shall I gain or lose by selling articles — 5. Costing $9 at an advance of 12 per cent? ANSWER. - $10.80 gain. 6. Costing $27.50 at a loss of 16 per cent? ANSWER. — $1.044 gain. 10. Costing $125 for 125 per cent of cost? 13. How many pounds of sugar, costing 8 cents per pound, must be sold for a dollar, in order to make a profit of 121 per cent? SOLUTION. - To gain 12į per cent, I must sell it for 1124 per cent, or ; of the cost. Therefore I must sell it for g of 8 cents, or for 9 cents per pound, which will give 11f lb. for a dollar. 14. How many pounds of coffee, costing 15 cents per pound, must be sold for a dollar, in order to gain 11+ per cent? 15. Bought a cask of rice containing 213 pounds, at 3} cents per pound. How many pounds must I sell for a dollar, in order to gain 25 per cent? 16. I bought 112 barrels of apples at $1.75 per bbl., and it cost $12.50 for having them brought to my store. For how much per bbl. must I sell them, in order to make a clear profit of 33} per cent? 17. A house carpenter purchased a house for $2500. He worked with 2 journeymen and 1 apprentice 24 days in repairing it. IIe valued his own services at $2.25 per day, the services of each journeyman at $1.75 per day, and those of the apprentice at $1 per day. The stock used in repairing cost $225, and he paid $100 for having the house painted. He then sold the house so as to gain 25 per cent or the whole amount which it had cost him. For how much did he sell it and what was his gain? 18. An importer sold to a wholesale dealer a lot of sugar which had cost him 54 cents per pound, at an advance of 33} per cent. The wholesale dealer sold it to retail dealers at an advance of 25 per cent. The retail dealers sold it at an advance of 20 per cent on what it had cost them. For how many cents per pound did the retail dealers sell it? 19. What per cent shall I gain by selling articles costing $1.54 for $1.68? Solution. - I shall gain $.14, which equals 1st = .09i's, or 974 per cent of the cost. (e.) What per cent shall I gain or lose by selling articles costing 20. $7 for $6 ? 23. $.50 for $.621 ? 21. $7.50 for 5? 24. $137.80 for $172.25? 22. $.62 for $.50 ? 25. $172.25 for $137.80 ? (f.) What per cent of the cost shall I receive by selling articles costing26. $4 for $5 ? 28. $15 for $15.75? 27. $5 for $4? 29. $15.75 for $15? (g.) What per cent of the selling price shall I gain or lose by selling articles costing 30, $.75 for $1 ? 33. $12 for $11? 31. $1 for $.75? 34. $1 for $2? 32. $11 for $12? 35. $2 for $1? 36. What per cent of the selling price shall I gain, if I gain 18 per cent of the cost ? Solution. — If I gain 18 per cent of the cost, I shall sell for 118 per cent of the cost. Hence, the gain, 18 per cent, is 18 - .15}of the selling price, or 15} 5 per cent of the selling price. (h.) What per cent of the selling price shall 1 gain or lose if I 37. Lose 10 per cent of cost ? 40. Gain 20 per cent of cost? 38. Gain 10 per cent of cost? 41. Gain 50 per cent of cost? 39. Lose 20 per cent of cost? 42. Gain 100 per cent of cost? 43. What per cent of the cost shall I lose if my loss equals 10 per cent of the selling price? Solution. - The loss added to tho selling price must equal the cost. Hence, if I lose 10 per cent of the selling price, the cost must be 110 per cent of the selling price, and the loss must be 11% = 1 = 914 per cent of the cost. (i.) What per cent of the cost shall I gain or lose 44. If my loss equals 25 per cent of the selling price ? 49. If my gain equals 61 per cent of the selling price ? 50. What is the cost of goods on which I gain 911 per cent by gaining 14 cents ? SOLUTION.–Since 14 cents is 91ī per cent of the cost, 100 per cent of the 100 cost must equal of 14 cents = $1.54. 911 (j.) What is the cost of goods on which I – 51. Gain $2 by gaining 10 per cent? (k.) What is the selling price of goods on which I-. 55. Gain $6 by gaining 6 per cent? 61. What is the cost of goods on which I gain 12 per cent by selling for $3.08 ? SOLUTION.-Since I gain 12 per cent, my selling price must equal 112 per cent of the cost. Hence, 100 per cent of the cost, or the cost itself, must equal jff of the selling price. iff of $3.08 = 2.75 = cost. 62. What is the cost of goods on which I lose 12 per cent by selling for $3.08 ? SOLUTION. — Since I lose 12 per cent, my selling price must equal 88 per cent of the cost. Hence, 100 per cent of the cost, or the cost itself, must equal of the selling price. 1939 of $3.08 = $3.50 = cost. What is the cost of goods on which I 63. Gain 20 per cent by selling for $1728? 67. I bought a carriage for $125, and, after paying $12.50 for baving it painted and varnished, I sold it for $150. What was my gain per cent? |