257. To find the rate of profit or loss. 1. Flour was bought for $8, and sold for $10 a barrel. That was the gain per cent.? ANALYSIS. Since the whole gain is the difference between $8 and 0, 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; ; . 6. What % is gained on goods sold at double the cost? 7. What % is lost on goods sold at one-half the cost? 258. 1. Bought wool at $.48 a pound, and sold it at $.60 a und. What was the gain per cent.? SOLUTION.—$.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. 5. On sugar bought at 8 cents and sold at 93 cents. 7. A drover bought 150 head of cattle for $42 per head, d sold them for $5400; what was his loss per cent.? 3. Bought 108 bbl. of flour at $4.62 a bbl. and sold it so to gain $114.88; what per cent. profit did I make? 1. A fruit-dealer sold pears at a profit of $3 a barrel, which was a gain of 20%. What did they cost? 20 ANALYSIS. Since the gain, 20%, was 12%, 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 124%. 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 (247.) 5 cents, or 40 cents. 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 $8 a barrel. 11. Two pictures were sold for $99 each; on one there was a gain of 10%, on the other a loss of 10%. or loss on the sale of both, and how much? Was there a gain 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. nd the cost Of goods sold at $1500 profit, or a gain of 16%. A furniture dealer sold two parlor sets for $450 each, ne he made 15%, on the other he lost 15%. What did cost him? LUTION. $450÷(1+.15) = $391.30+, cost of one. {$450+ (115) = $529.41+, cost of the other. (248.) Sold 25 barrels of apples for $69.75, and made 24%. t did they cost per barrel? Sold 94 cwt. of sugar at $81 per cwt., and thereby lost What was the whole cost? nd the cost, Of coal sold at $6, being at a loss of 121%. . Of grain sold at $.96 a bushel, at a gain of 28%. . Of silk sold for $5.40 a yard, at a profit of 10%. 31. To find the marking price. At what price must a grocer mark tea that cost $.76 a ad, so that he may abate 5%, and yet gain 25%? rst find the selling price at 25% gain; then regard the selling price t, and find the asking price. LUTION. $.76 × (1+.25) = $.95, the selling price. {8.95+ (1.05) = $1, the asking price. nd the marking price, when the cost COMMISSION. 262. Commission is the percentage or compensation allowed an agent for transacting business. The agent may be known as a factor, broker, or a commission merchant. A consignment is a quantity of goods sent by a party to his agent. The consignor is the party who sends the goods. The consignee is the party to whom the goods are sent. 263. The net proceeds is the balance due the consignor, after deducting the commission and other charges. 264. The terms corresponding to percentage are as follows: 1. The money invested or collected is the base. 2. The rate % allowed for services is the rate. 3. The commission is the percentage. 265. Find the commission 1. On a sale of merchandise for $2150, at 21%. SOLUTION.-$2150 ×.021 = $48.37, commission (242, 1). FORMULA: Amt. of sales × rate = commission. 2. On the sale of a farm for $4650, at 21%. 3. On the sale of 375 bbl. of flour, at $6.25 a bbl., at 31%. 4. On the purchase of a farm for $13750, at 23%. 5. On the sale of a mill for $9384, at 3%. 6. On the sale of $21680 worth of wool, at 14%. 7. On the sale of 250 bales of cotton, averaging 520 lb., at 14 cents a pound, at 11%. 8. A commission merchant sells 225 bbl. of potatoes at $3.25 per bbl., and 316 bbl. of apples at $44 per bbl. What is his commission at 41%? 266. Find the rate of commission, 1. When $52.20 is paid for selling goods to the amt. of $2320. SOLUTION.-$52.20÷$2320 21%, rate. (244.) = .0225 = FORMULA: Commission÷amt. of sales = rate. 2. When $78 is paid for selling goods for $5200. 4. When $63 is paid for collecting a debt of $1260? 5. Paid my N. O. agent $74.25 for buying 26400 lb. of rice, at 4 cts. a lb. What was the rate of his commission? 267. Find the amount of sales, 1. When a commission of $105 is charged, at 21%. SOLUTION.-$105.025 FORMULA: Commission $4200, amt. of sales. (246.) rate = amount of sales. 2. When $378 commission is paid, at 21% ? 3. When $210 commission is charged, at 6%. 4. If an agent charges $59.50 commission, at 13%. 5. Paid an agent $394 for selling a piece of property, at 21%. What did the property bring? 268. Find the amount to be invested, 1. If $9500 is remitted to a correspondent to be invested in woolen goods, after deducting 5% commission. SOLUTION.-$9500 ÷ 1.05 = $9047.62, amt. invested. (248, 1.) FORMULA: Amt. remitted ÷ (1 + rate) = sum invested. 2. If $4455 is remitted, deducting 14% commission. 5. Sent to my agent in Chicago $1508.80, to invest in flour at $5 a barrel, after deducting his commission at 21%. many barrels can he buy? How |
