5. Gloves bought at $12 a doz., and sold at a gain of 50% a pair. 6. Bought a carriage for $160, and, after paying 10% for repairs, sold it at 121% profit. What was the gain, and the selling price? 7. If butter bought at 36 cents a pound is sold at a loss of 16%, what is the selling price? 8. What must be the selling price of coffee that cost 25 cts. a pound, in order to gain 20%? 9. At what price must an article that cost $5 be sold, to gain 100%? 120%? 150%? 200%? WRITTEN EXERCISES. 256. 1. A house and lot bought for $4750 was sold at a profit of 371%. What was the gain, and the selling price? SOLUTION.-$4750 × .375 = $1781.25, gain; $4750 +$1781.25 = $6531.25, the selling price. (242, 2.) 1. Cost xrate= FORMULAS: 2. Cost + profit | 3. Cost loss profit or loss. = selling price. Find the profit or loss, and the selling price, 2. Of goods that cost $3 a yard, and sold at 25% gain. 3. Of a house bought for $3270, and sold at 7% gain. 4. Of sugar that cost $623.75, and sold at 61% loss. 5. Of land that cost $1745, and was sold at a gain of 20%. 6. Of goods that cost $3120, and were sold at 27% gain. 7. Of a boat bought for $2545, and sold at 25% loss. 8. A miller bought 500 bushels of wheat at $1.15 a bushel, and he sold the flour at 163 per cent. advance on the cost of the wheat. What was his gain? 9. Bought 76 cords of wood at $3.624 a cord, and sold it so as to gain 26 per cent. Find the whole gain, and the selling price per cord. 10. A hatter bought 40 hats at $1.75 apiece, and sold them at a loss of 14 per cent. What was his whole loss? 11. A merchant pays $7650 for a stock of spring goods; if he sells at an advance of 20% upon the purchase price, what are his profits, after deducting $480 for expenses? 12. A grocer bought 3 barrels of sugar, each containing 230 pounds, at 81 cents a pound, and sold it at 18 per cent. profit. What was his whole gain, and what the selling price per pound? 13. Bought a house for $4380. For what must it be sold to gain 141%? SOLUTION.-$4380 × (1+.141 or 1.145) FORMULAS: $5015.10. 14. At what price must pork, bought at $18.40 a barrel, be sold, to lose 15%? SOLUTION.-$18.40 × (1-.15 = $15.64. = 1. Cost x (1+rate of gain) -selling price. Find the selling price of goods, 15. Bought at $126.50, and sold at 9% gain. 16. Bought at $3424, and sold at 121% loss. 17. Bought at $1032.50, and sold at 14% gain. 18. Bought at $3000, and sold at 81% loss. 19. At what price must goods that cost $31 a yard be marked, to gain 25%? To lose 20% ? 20. Sold a lot of damaged goods at a loss of 15%. What was the selling price of those that cost $.621? $1.25? 21. Bought a hogshead of sugar containing 9 cwt. 56 lb. for $86.04, and paid $4.78 freight and cartage. At what price per pound must it be sold to gain 20%? 22. A merchant bought 15 pieces of broadcloth, each piece containing 23 yards, for $840, and sold it so as to gain 18%. What did he receive a yard? 257. To find the rate of profit or loss. ORAL EXERCISES. 1. Flour was bought for $8, and sold for $10 a barrel. What was the gain per cent.? ANALYSIS. Since the whole gain is the difference between $8 and $10, which is $2, or the cost, the gain % is of 100%, or 25%. (243.) Find the rate of profit or loss on 2. Coal, bought at $6 a ton, and sold at $7; at $8. 3. Tea, bought at $.80 a pound, and sold at $.90; at $1. 4. Sugar, bought at 10 cts. a pound, and sold at 12 cts. 5. A sewing-machine, sold at a loss of the cost; 1; 1. 6. What % is gained on goods sold at double the cost? 7. What % is lost on goods sold at one-half the cost? WRITTEN EXERCISES. 258. 1. Bought wool at $.48 a pound, and sold it at $.60 a pound. What was the gain per cent.? SOLUTION.-$.60-$.48 $.12; and $.12÷$.48=.25=25%. (244.) = FORMULA: Profit or loss cost rate. Find the rate % of profit or loss 2. On produce, bought for $640, and sold for as much. 3. On a carriage, bought for $250, and sold for as much. 4. On coal, sold for $72.96, at a gain of $9.12. 5. On cloth, bought for $4.25 a yard, and sold for $4.93. 6. On sugar bought at 8 cents and sold at 93 cents. 7. A drover bought 150 head of cattle for $42 per head, and sold them for $5400; what was his loss per cent.? 8. Bought 108 bbl. of flour at $4.62 a bbl. and sold it so as to gain $114.88; what per cent. profit did I make? 9. If I sell of an article for of its cost, what % is gained? 10. If of an article is sold for its cost, what % is lost? 259. To find the cost. ORAL EXERCISES. 1. A fruit-dealer sold pears at a profit of $3 a barrel, which was a gain of 20%. What did they cost? ANALYSIS. Since the gain, 20%, was, or of 100%, $3 is of the cost; $3 is of 5 times $3, or $15. (245.) Find the cost of 2. Hats, sold for $1 less than cost, or at a loss of 16%. 3. Flour, sold at a profit of $2 a barrel, or a gain of 25%. 4. Boots, sold at $1.50 a pair, above cost, or a gain of 30%. 5. A cow, sold at 334%, or $12 less than cost. 6. A drover sells sheep at a profit of $14 a head, which is a gain of 25%. Find the cost, and the selling price? 7. Sold muslin at 45 cents a yard, and gained 121%. What did it cost? ANALYSIS.-Since the gain, 123%, is the cost, 45 cents, the selling price is the cost. of 45 cents, or 5 cents, is the cost, and is 8 times 5 cents, or 40 cents. (247.) Find the cost of 8. Tea, sold at $.90 a pound, or a gain of 25%; a loss of 20%. 9. Turkeys, sold at $.30 a pound, or a profit of 20%. 10. Flour, sold at a loss of 20%, or $3 a barrel. 11. Two pictures were sold for $99 each; on one there was Was there a gain a gain of 10%, on the other a loss of 10%. or loss on the sale of both, and how much? WRITTEN EXERCISES. 260. 1. Sold a sewing-machine at an advance of $22.65, which was 25% of its cost. What did it cost? SOLUTION.-$22.65.25 = $90.60, the cost. (246.) FORMULA: Profit or loss ÷ rate = cost. Find the cost 2. Of goods sold at $1500 profit, or a gain of 16%. 4. Of wheat sold at a loss of 6 cents, or 4% on a bushel? 5. Of lumber sold at $4.95 gain per M., or 35%. 6. A furniture dealer sold two parlor sets for $450 each; on one he made 15%, on the other he lost 15%. What did each cost him? SOLUTION. FORMULA: Selling price ÷ $450÷(1+.15) = $391.30+, cost of one. $450÷(1--.15) = $529.41+, cost of the other. (248.) SOLUTION. J1 + rate of gain Į 7. Sold 25 barrels of apples for $69.75, and made 24%. What did they cost per barrel? 8. Sold 94 cwt. of sugar at $81 per cwt., and thereby lost 12%. What was the whole cost? Find the cost, 9. Of coal sold at $6, being at a loss of 121%. 10. Of grain sold at $.96 a bushel, at a gain of 28%. 11. Of silk sold for $5.40 a yard, at a profit of 10%. = cost. 261. To find the marking price. 1. At what price must a grocer mark tea that cost $.76 a pound, so that he may abate 5%, and yet gain 25%? ( $.76 × (1+.25) = $.95, the selling price. = $1, the asking price. Find the marking price, when the cost 2. Is $120, so as to abate 4%, and yet make a profit of 20%. 3. Is $60, so as to abate 25%, and still gain 20%. 4. Is $20000, so as to fall 20%, and still make 10% profit. |