Page images
PDF
EPUB

This, as well as brokerage and insurance, is computed in the same manner as for even pounds, and for 4, 1, or 2, as in the last Case.

EXAMPLES.

2

(7) My factor writes me word, that he has bought goods, upon my account, to the value of 474l. 14s. 6d. I demand to know what his commission comes to at 3

per cent.

(8) Suppose I allow my correspondent 24 per cent. for his commission; what is his demand on the disbursement of 7421. 12s. 6d. ?

BROKERAGE

IS an allowance or fee paid to a person called a broker, for assisting others in buying or disposing of their goods; and in the city of London they are not to act without a licence from the lord mayor.

Case 3. To find the brokerage for any sum, at any rate under 17. per cent.

RULE.

Divide the given sum by 100, and it will give the interest at 17. per cent. which interest you must take parts from, with the rate per cent. and add them together; the sum will be the brokerage required.

EXAMPLES.

(9) What is the brokerage of 420). 12s. 6d. at 6s. 4d. per

[ocr errors]

cent.? (10) Suppose I employ a broker, who sells goods for me, to the value of 100Ol., what may he demand for brokerage, it being at 4s. 6d. per cent.?

(11) Suppose a broker disposes of goods for me, to the amount of 540l. 10s. what comes the brokerage to, at 13s. 10d. per cent.?

(12) What is the brokerage of 24741. 15s. at 19s. 9 d. per

cent.?

INSURANCE

IS a contract or agreement whereby one or more persons, called insurers, &c. oblige themselves to answer for the loss or damage of ships, houses, goods, &c. by storms, fires, &c. in consideration of a premium paid by the proprietors of the thing injured.

To find the insurance of any sum at any rate under 17. proceed as in the last Case; if above, as in Case 1.

EXAMPLES.

(13) Suppose I insure for 1460l. at 2s. 6d. per cent. per ann. what does the insurance come to?

14) What is the insurance of 2460l. at 10l. 15s. per cent.? 15) Shipped at Jamaica, goods to the value of 2500l. upon which I made an insurance at 67 per cent. What does it come to?

(16) What is the insurance of an East-India ship and cargo, valued at 74067. 17s. 6d. at 154 per cent.?

PURCHASING OF STOCKS.

STOCKS are the public funds of the nation, the shares of which being transferrable from one person to another, occasions that extensive business called Stock-jobbing.

RULE.

Multiply the sum to be purchased, by the excess of the rate per cent. above 100; the product divide by 100, as be-fore, and the quotient added to the given sum will give the required purchase.

If under par, i. e. if under 100 per cent. proceed as in Case 2.

EXAMPLES.

(17) What is the purchase of 400l. South-Sea stock, at 1201. 5s. per cent.?

(18) What is the purchase of 4701. bank stock, at 873 per

cent.?

(19) What is the purchase of 2470l. 17s. 10d. bank annuities, at 103 per cent. ?

(20) What is the purchase of 8767. India stock, at 114 per

cent.?

Case 4. When the interest is for 4, 4, or 4, of a year, or any number of years besides.

RULE.

Find the interest for the years, as in Case 1, then for 4, or, take parts from the interest of one year; i, e. for 4, take one-fourth part of the said interest; for, take onehalf; and for, take the compound parts of, that is, a half for, then half of that for 4, which, added to the interest for years (if any), the sum will be the interest required.

EXAMPLES.

(21) What is the interest of 4271. 10s. for four months, at 4 per cent. per annum ?

(22) What is the interest of 2467. 12s. 6d. for 14 year at 5 per cent. per annum ?

(23) Lent 2094 18s. upon a mortgage, to receive interest for

the same, at 4 per cent. per annum, till it was paid. off, which was not till the end of 44 years after. Now I should be glad to know what is due to me. (24) A gentleman dying left his daughter 6041. 17s. 6d. for her fortune, to be paid her when at age, with interest, at 5 per cent. per annum. Now she came of age in 3 years 9 months after her father's death. What is the amount of her fortune? that, is, What is she to receive in all, principal and interest.

Case 5. When the interest required is for any number of

weeks.

RULE.

1. Find the interest of the given sum for a year, as in Case 1.

2. Say, as 52 weeks are to that interest of the given sum so are the weeks given to the interest required. OF you may divide the given weeks into aliquot parts of a year, or 52 weeks.

EXAMPLES.

(25) What is the interest of 400l. 15s. for 4 weeks at 4 per

cent. per annum?

1

(26) What is the amount of 600l. for 26 weeks, at 3 per cent. per annum?

(27) What is the interest of 7401. for 4 years and 42 weeks, at 5 per cent. per aunum?

(28) What is the amount of 2001. for 5 years and 50 weeks, at 4 per cent. per annum?

Case 6. To find the interest of any sum, for any number of days.

RULE.

1. Say, As 365 days are to the interest of the given sum for a year so are the days given to the interest required. 2. When convenient, divide the days into aliquot parts of a year, or 355. Or,

3. Reduce the principal into pence, which multiply by the number of days, and that product by the rate per cent. for a dividend: then multiply 365 (the days in a year) by 199 for a divisor, by which divide the dividend, and the quotient will be the answer in pence, which bring to pounds. Or,

4. Multiply the given sum by the number of days, and 100 × 365 divide the product by 7300 (viz.

5

-) the quotient will give the interest at 5 per cent. and for a higher or lower rate, take aliquot parts for a difference, which add or subtract accordingly.

A TABLE of Days for any given time less than a

[blocks in formation]

2

3

2345

13260 91121152182213244274305|335| 23361 92122153183214245 275 306 336 33462 93123154184215246276 307 337 4 43563 94124155 185 216 247 277 308 338| 5366 95125156186 217 248 278 309 339 6376 96 120 157 187 218 249 279310 340 73866 97127 158188219250280311 341 83967 9128159189220251281312342 94068 99129 160 190 221 252 282313343 415100130101191 222 253 283314344

7

8

9

10

14

15

701011316219 223 254 284 315 345 4371021321631 3 224255 285 316346] 447 103 133164194225256286 317 347] 47 104134105 195 226 257 287 318 348] 54674-0 35 166 196 227 258 288319349 16 16477.) 09136 107 97 228 259289|320|350 17 17487 107 137 168198|229|260 290 321 351 18 1877 10813816919|230|261| 291 322 352 191507102139170200231262292323353| 20 20 5179110140171201|232|263293324354 21 21 528-111141172202233264 94325355 22 225351112142173203|234265|295|326356 23 2354 82113143174201|235|266|296 327 357 24 24558114144175|205|236267 27 328 358 |25|25|56|84|1 15145176206 237 268 298329359) 26 2657 85116146177 207 3826|29|330360| 27 27 58 86117147178208239 270 300 331 361 28 2859871181481720 240 271 301 332362 29 296088119:49 180 210 241 272 302 333 363 130101 89 120 150 181211242273 303334364 |31 311

90

151

212243 304 365

« PreviousContinue »