A complete system of commercial arithmetic, its application to the principal branches of commerce, according to the existing practices of trade, and ... with an appendix, exhibiting the meth - Softcover
Synopsis
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1837 Excerpt: ...4 produce a profit of £ 273 17 7, what is the rate of this gain per cent. 1 Answer £ 16 0 0.. Ex. 8. If goods which cost £ 821 15 9 had been sold for £ 784 16 2, what is the rate of this loss per cent. 1 Answer £ 4 10 0. Ex. 9. What is the rate per Pound at which the distribution of effects must be made, when the amount of the claims is £ 37634 16 0, and the assets are only £ 8316 14 2? Answer £ 0 4 5. Ex. 10. What is the rate per Pound at which the distribution of effects must be made, when the amount of the claims is £ 11208 4 4 and the assets are only £ 2603 8 1? Answer £ 0 4 8. FORMULA FOR THE CALCULATION OF SIMPLE INTEREST. To find the amount of the Interest on £ 864 12 6 for 35 days at 5 per cent. per annum. £ £ 864 12 6 = 864.625 35 4323.125 25938.75 i... 30262 TV... 10087 TV... 1008 100 £ 4.1457 = £42 11 very nearly. For the Rule see page 106. As it is not usual to calculate the Interest upon the shillings and pence in the Principal, the above calculation would commonly be worked as for £ 865; (see page 104;) but it is sometimes required to calculate for the lower denominations, and then the best method is to value them decimally. The third, tenth, and tenth of the 10.000 th is an approximation for the division by 7300, as shown page 171. The valuation is made upon £ 4.1457 reckoned £ 4.146. Exercises. Ex. 1. What is the amount of the Interest upon £ 348 13 6 for 101 days at 5 per cent. per annum. Answer £ 4 16 6. Ex. 2. What is the amount of the Interest upon £ 654 for 234 days at 5 per cent. per annum. Answer £ 20 19 4. Ex. 3. What is the amount of the Interest on £ 1635 17 4 for 29 days at 3J per cent. per annum. Answer £ 4...
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