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2. According to the conditions of the last example, how much would be a person's tax whose property was assessed at $3845, and who paid for 2 polls?

Finding the amount from the table,

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3. How much would be W's tax, who was assessed for 1 poll, and on property valued at $5390? Ans. $27.70.

4. A tax of $13662 is to be assessed on a certain village; the property is valued at $1400000, and there are 2981 polls, to be taxed $2.00. What is the assessment on a dollar? What is C's tax, his property being assessed at $12450, and he paying for 2 polls?

Ans. $.005 on $1; $72.471⁄2, C's tax. 5. What is the tax of a non-resident, having property in the same village valued at $5375? Ans. $29.5625. 6. A mining corporation, consisting of 30 persons, is taxed $4384; its property is assessed for $188000, and each poil is assessed $2.00. What per cent is their tax, and how much must he pay whose share is assessed for $2500, and who pays for 1 poll?

Ans. 23%; $59.50.

7. The number of polls in a certain school district is 225, and the taxable property is $1246093.75; it is proposed to build a union school house at an expense of $10000; if the poll tax is $1.25 a poll, and the cost of collecting is 21 per cent, what will be the tax on a dollar, and how much will be E's tax, who pays for 1 poll, and has property to the amount of $11500?


290. Duties, or Customs, are taxes levied on imported goods, for the support of government and the protection of home industry.

A Tariff is a schedule showing the rates of duties fixed by law on all kinds of imported merchandise.

291. A Customhouse is an office established by government for the transaction of business relating to duties.

292. Tonnage is a tax levied upon a vessel, independent of its cargo, for the privilege of coming into a port of entry.

293. Revenue is the income to government from duties and tonnage.

294. Duties are of two kinds, Ad Valorem and Specific.

Ad Valorem Duty is a sum computed on the cost of goods in the country from which they were imported. Specific Duty is a sum computed on the weight or measure of goods, without regard to their cost.

295. An Invoice is a bill of goods showing the quantity and price of each kind.

296. In collecting customs, it is the design of the government to tax only so much of the merchandise as will be available to the importer in the market. The goods are weighed, measured, gauged, or inspected, in order to ascertain the actual quantity and value received in port; and an allowance is made in every case of waste, loss, or damage.

297. Tare is an allowance for the weight of the package or covering that contains the goods. It is ascertained by actually weighing one or more of the empty boxes, casks, or coverings. In common articles of importation, it is sometimes computed at a certain per cent previously ascertained by frequent trials. Breakage is an allowance on liquors imported in bottles.

298. Gross Weight or Value is the weight or value of goods before any allowance has been made.

299. Net Weight or Value is the weight or value after all allowances have been deducted.


1. What is the duty, at 24%, on 50 gross of London ale, invoiced at $1.20 per dozen, 21% being allowed for breakage?


$1.20 × 12 × 50 = $720, gross value.
$720 x .025 $18, breakage.
$720 $18 $702, net value.
$702 x .24 $168.48, duty.


we find the cost of the ale, at the invoice price, which is $720. From this sum we deduct the

allowance for breakage, $ 18, and compute the duty on the remainder. RULE.-Deduct allowances, if necessary, and compute the duty, at the given rate on the net value.




2. What is the duty, at 19%, on 224 yards of cloth, invoiced at $.95 per yard? Ans. $40.43+.

3. What is the duty, at 24%, on 50 barrels of sperm oil, each containing originally 31 gallons, invoiced at $.54 per gallon, allowing 2% for leakage?

4. What is the duty, at 15%, on 175 bags of merchandise, each containing 115 lb., valued at 15 cents per pound? Ans. $452.814.


300. Interest is a sum paid for the use of money. 301. Principal is the sum for the use of which interest is paid.

302. Rate per cent per annum is the sum per cent paid for the use of any principal annually.

303. Amount is the sum of the principal and interest.

304. Simple Interest is the sum paid for the use of the principal only, during the whole time of the loan or credit.


305. Legal Interest is the rate per cent established by law. It varies in different States. Usury is a higher rate of interest than is allowed by law.

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306. In percentage, any per cent of any given number is so many hundredths of that number; but in interest, any rate per cent is confined to 1 year, and the per cent to be obtained of any given number is greater than the rate per cent per annum when the time is more than 1 year, and less than the rate per cent per annum when the time is less than 1 year.

Thus, the interest on any sum, at any rate per cent, for 3 years 6 months, is 3 times the interest on the same sum for 1 year; and the interest for 3 months is of the interest for 1 year.


307. The principal, rate per cent, and time being given, to find the interest and amount.

1. What are the interest and amount on $75.19 for 3 years 6 months, at 4% ?


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RULE.-I. Multiply the principal by the rate per cent, and the product will be the interest for 1 year.

II. Multiply this product by the time in years and frac tions of a year, and the result will be the required interest.

III. Add the principal to this interest, and the result will

be the amount.

2. What is the interest of $150 for 3 years, at 4%? Ans. $18.

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