Page images
PDF
EPUB

3. If 19 Cwt. sugar be fold, at £4 5s. per Cwt. and I gain £15 per cent; what did it cost per Cwt.?

[merged small][ocr errors][merged small]

As 115:45 :: 100: 313 10 Ans.

CASE IV.

If by wares fold at such a rate, there is so much gain ed or loft per cent. To know what would be gained or loft per cent. if fold at another rate.

RULE. As the first price is to £100, with the profit per cent. added, or loss per cent. fubtracted; so is the other price, to the gain or loss per cent. at the other rate.

N. B. If your answer exceed £100, the excess is your gain per cent. but if it be less than £100, that de ficiency is the loss per cent.

EXAMPLES.

1. If cloth fold at 5s. 8d. per yard, be £13 6s. 8d. profit per cent.; what gain or loss per cent. shall I have if I fell the fame at 5s. per yard ?

s. d. Js. d As5 8: 113 68::5

S.

[blocks in formation]

68) 136000(200,0 100-100=oAns. I neither (gain nor lofe.

136

000

£100

2. If cloth fold at 4s. per yard, be tol. per cent. profit; what shall I gain or lose per cent. if fold at 3s.

6d. per yard ?

[merged small][ocr errors]

s. d. L.

As 4: 110 :: 36: 964 £. £. £.

Then, 100-964=34 per cent. loss, (Anf.

3. I fold a watch for 50l. and by so doing, lost 171. per cent. whereas I ought, in trading, to have cleared 201. per cent. ; how much was it fold under its real value ?

f. 6. L. L. s. d. £. £. s. d. As 83: 50 :: 100: 60494 As 100: 60494:. £.£. s. d £sd. £. £. s. d. 120:72 5 9 then, 72 5 94-50-22 5 94 Anf

EQUATION OF PAYMENTS

Is the finding of a time to pay at once, several debts due at different times, so that no lofs shall be sustained by either party.

RULE 1.* Multiply each payment by the time at which it is due; then divide the sum of the products by the sum of the payments, and the quotient will be the oquated time, or that required.

EXAMPLES.

1. A owes B 38cl. to be paid as follows, viz. 100l. in 6 months, 120l. in 7 months, and 160l. in 10 months; what is the equated time for the payment of the whole debt ?

100

• This rule is founded upon a fuppofition, that the fum of the interests of the several debts, which are payable before the equated time, from their terms to that time, ought to be equal to the fum of the interests of the debts payable after the equated time, from that time to their terms.

100 X 6= 600

120 X 7= 840

160 X 10= 1600

100+120+160=380)3040(8 months, Anf.

3040

2. A owes B 1041. 15s. to be paid in 4 months, 1611. to be paid in 3 months, and 1521. 5s. to be paid in 5 months: what is the equated time for the payment of the whole ? Ans. 4 months and 8 days.

3. There is owing to a merchant 6981. to be paid 1781 ready money, 200l at 3 months, and 320l. in 8 months; I demand the indifferent time for the payment of the whole ? Ans. 4 months.

4. The fum of 491. Is. 6d. is to be paid at 6 months. at 8 months, and at 10 months; what is the mean time for the payment of the whole ?

Ans. 7 months.

RULE 2. See by Rule ist, at what time the first man, mentioned, ought to pay in his whole money; then as his money is to its time, so is the other's money to his time inversely, which, when found, must be added to or fubtracted from, the time at which the second ought to have paid in his money, as the cafe may require, and the fum, or remainder, will be the true time of the second's payment.

EXAMPLES.

1. A is indebted to B 150l., to be paid 50l. at 4 months, and tool. at 8 months: Bowes A 250l. to be paid at 10 months: It is agreed between them, that A mall make present pay of his whole debt, and that B shall pay his so much the fooner, as to balance that faour; I demand the time at which B mast pay the 2501. reckoning fimple interest?

[ocr errors][merged small]

50+100=15/0) 1000 (63 months, A's equated time.

[merged small][merged small][merged small][merged small][ocr errors][merged small]

As 150 : 63 :: 250 : 4 then 10-4-6 time of B's

(payment.

2 A merchant has 1200 due to him, to be paid at 2 months, at 3 months, and the rest at 6 months; but the debtor agrees to pay down; how long may the debtor detain the other half, so that neither party may sustain loss ?

161312

mo. mo. Now, as was paid 4 months bex2=fore it was due, it is reasonable that × 3 1 x 6 = 3

Equated time 4

45

he should detain the other
month, after it became due, which,
added, gives 83 months, the true
time for the second payment.

COMMISSION OR FACTORAGE*

Is an allowance of so much per cent. to a factor, or correspondent abroad, for buying and felling goods, for his employer.

EXAMPLES.

1.

1

What comes the commission on £539 12/9 to,

at 4 per cent. ?

539

* The method of working questions in this Rule, Brokerage and the first case of Infurance, is the fame as in Simple Intereft

[blocks in formation]

2. My factor receives £ 1008 to lay out after having deducted his commiffion of £5 per cent. ; what does his commission amount to ?

Here, as his commission is to be deducted from the given fum, it is evident that I ought not to pay him commiffion on his own money (which, however is often unjustly practifed) therefore,

L. L. L. 6.

As 105 : 5 :: 1008: 48 Ans.

3. My correfpondent writes me that he has purchased goods to the value of £673 128.; what does his commiffion on that sum amount to, at £3 per cent. ?

BROKERAGE

Anf. £23 11 6.

Is an allowance of so much per cent. to a perfon called a Broker, for affifting merchants or factors in purchafing or felling goods.

EXAMPLES.

1. What is the brokerage upon £525 10s. at 5s. or £4 per cent.?

« PreviousContinue »