Crier ety ays en yitented AT hia tite ae wy) gern pas gece ah ar ata ot ROY wer palate 256 yrw she Suter oe ere y: s Na : 4 2 Base 4 Ate se UNIVERSITY OF ILLINOIS LIBRARY Class Book SHB K8I0h 513.9 ICS LIBRABE MAT BEMA! Dy eue on Pa ‘= K HY TO THE CRITTENDEN COMMERCIAL ARITHMETIC AND BUSINESS MANUAL. Yh. cr KEY TO THE CRITTENDEN COMMERCIAL ARITHMETIC, BY JOHN GROESBECK, PRINCIPAL OF THE CHITTENDEN PHILADELPHIA COMMERCIAL COLLEGE. Wi - / f PHILADELPHIA: ELDREDGE & BROTHER. NEW YORK: J. W. SCHERMERHORN & CO. BOSTON: J. L. HAMMETT. CHICAGO: W. B. KEEN & COOKE. — 1870. 51333 Re wd O° Fee 2% y—____—____—s tng ees Entered according to Act of Congress, in the year 1869, by AR, ELDREDGE & BROTHER, a in the Clerk’s Office of the District Court of the United States for the astern District of Pennsylvania. at amish hare cs oe J. FAGAN & SON, ma ‘ 4 _STEREOTYPERS, PHILAD’A. 56 CAXTON PRESS OF SHERMAN & CO. LIHFASATICG Lion MMIGEMATICS LIBRARY SUGGESTIONS TO TEACHERS. -[P\HE study of Book-Keeping should always be pre- ceded or accompanied by the study of Commer- cial Calculations and Business Forms. It is then not only more easily understood, but, without this preparatory knowledge, many things will be very imperfectly comprehended. In order to save space, the number of exercises given is limited. It is thought, however, that most teachers can easily increase the exercises under many of the rules, if desired.. In Interest Accounts, each example given should be worked out by all the dif- ferent methods for practice, and also as a means of comparison. ‘The Second Method is by some called the French Method, and is considered more nearly accurate than the first, as there are no fractions in the operations to affect the final result. In the solution of the Foreign Invoices, absolute accuracy is not attempted; approximate values are all that are required, and the easiest method of com- putation is the one most generally adopted. The student should not be confined to one method only. Business practice is subject to so much variation, 5c vy as 213729 vl SUGGESTIONS TO TEACHERS. caused by different usages and modifying circum- stances, that he who is familiar with only one method will meet with many difficulties, and frequently with serious misunderstandings. The explanations accompanying the Business Forms should be closely studied in connection with the Forms themselves, and the student may proceed with advantage through both Forms and Calculations simultaneously. oieeies from works on Book-Keep- ing will afford additional exercises, which will be found useful. For instance, an entry of a sale may be given, and then the student required to write out the Bill or Invoice, Receipt, Note, or Order, according to the circumstances of the case, and so with other transactions. Thoroughness cannot be too much in- sisted upon. - Mechanical facility saves time, and, to the merchant most especially, time is money. - Page. Art: 11 14 sé 15 EEG Xo Addition. Example. Answer. 4 3825 8014 5846 1100.08 Cancellation. 1 : 36 9 eS] Tbs. 3 $189 Fractions, 2 2 3 33 4 Bo? 2 ahs 3 43 4 51 5 15 6 . 4 7 3 8 2 9 392 8 Kip y. Page. Art. Example. Answer, 21 2D ak) ‘ ‘ ed 11 . . ° . fe ° g 2 3 4 5 6 4 5 6666 + oo ae 27.30625 “ Oo Ao ll eo a 5 . 117.890625 6 1.500625 "7 8256875 8 97.78125 9 7912 0 $1.383 3 5.38734 A . 33.3333+4 b 81.84375 ~ ~ ~ a pond Denominate Numbers. 142] pts. 1362 in. 1440 min. 2385 Ibs. 4800 pts. 1 de 14 ewt. 3 qrs. 10 Ibs. - 119 m. 6 fur. 24rds. 3 yds. 2 ft. 1lb. 4.0z. 6pwt. 22 ers. 52412 gals. bo Be © DN Oo OB ~& LO 30 “6 Art. 40 4] “cc Example. Or WNW OP DW Oe ww DAD oO He & KEY. 9 Answer. , : pup ES TEP BANS “n | 20h. 34min. 171 15 s; a =) ae ee Blo Cl wo © oe ol of Se S | a rs cal ales col a] A & “3. 343751 aa .04375 tons. 2.375 gals. 17 cwt. 2 qrs. 1 bus. 3 pks. 4 qts. ; 5 0Z. 2 pwt. ape yrs. 2mos. 9 days, 18 h. Miscellaneous Examples. Orn or whN re sae be S46. 94 8964, 58— 136. 07—119. 06 cae . $69.57 29675.796 in. . $22.94 —$114.71 $983.77 $383.87 $51.66 Practice. $2567.25 804.69 10 Page, 32 Art, 47 éé Example. KE ¥. Contractions. : Answer, 2816 2504 504 1575 : : : . 4059 : 4 ; ; 3575 P : : . 4216 1224 4(96 1190 5256 1295 2025 4356 1140 4690 : : - 1082 : , . 3276 . 1568 . 640 810. . 560 6120 i ; - 480 . 45864 107973 605914 ‘ . 4 : . 98532 345912 137637 — Art, BE 66 Example. PoP WO COTO OF & OAT o or > 11 Answer, . 99640 206724 182970 527724 505215 . $5982.69 $15609.00 4455 . 25488 87375 . 50750 324675 4028 2457 588 . 516 1953 1326 $3.36 8.84 18.36 30.24 278.74 20.72 30.24 28.90 . 120 60 4800 8100 5500 160 B2 K EY: Page. Art. Example, Answer. BT CBA 9. a eo 190 0, “ ad 32142 “ “12 61000 “ 13 121000 “ Pega 92100 eR | ee oh ae 672 LEP pl: ; 648 “ en ae 1115 ‘“ ie one 1236 OSG Rete ty 3575 “ raha G 594 ‘6 ‘6 4 36% fi 9) 59z'5 « « 6 204 bc ‘6 7 : 45,9. ‘c 66 ee 3913 iy bc 9 1613 6 bs 10 524 38 69s 4225 «“ « 12 1225 ‘ ate 422500 « eo) Aaa 202500 x b0 sae 6875 ie 3 8475 i + 4 66 i’ ‘6 bc 5 432 ‘ Paps 15074 rT rT 4 533°5 ve a 8 123% “ rT 10 202 “ Tet a 1563°5 Page. 38 6é $6 39 6é 74 6é Art, 68 “é KEY. te 1501718 1126284 153300 143345, 4176 . 142860 Example. —" TOO PR WOO OAT OD OP WL Special Calculations. © CO -F Go Or OO bO KEY. Proportion. 3213 on _— bo ot Leela! Wo wo op 441 . 36 | ie bo QWoo Wht Whe ole Oo alto oes OF (su) Tt 0 a u | io ~ a $429 $317 52 4810 yds. } 181 ge 23082 “ 2464, gals. 90 éc 451 « K EY, 15 Distributive Proportion. Page. Art, Example. Answer, 1 oy 9 a : , . A. 200 shares. | Caos Be bO0r a! Ov 1500s Mee a, A, $9000 . B. 12000 C. 6000 D. 3000 $30000 * : i Gess ee Pee Lee ery Me A OOS B. 14 = Canoe ~- (100: 76::12cwt. : 9ewt. 1314 s a 6 100: 76::12-cwt.: 1 ewt. 2qr. 20.4. 100: 76 :: 12 cwt. : 1 ewt, 2242 Ibs, (112 lbs. = 1 ewt.) Fee A. $1650 In 7 } B. 2640 | + ebies | 0, 23810 Sueeecgee 3), . AL $15, B. $12, 0.918 Medial Proportion. GS eee ree be, feeoGn oe. lO «20 lbs. @ 70. 10. 66 ce 80 6é 10 7 “ 100 * 20 66 éé 110 6s fei lw ll. C14, carats. os ae : 36 gals. KE Y. Medial Proportion. Page: Art, Example. 55 100 6c 66 66 66 BY = «104 4 105 58 106 ce (a4 TE bé cé bé ée éé 6 é¢ (f3 ce (f3 éé Page 58, Ex, 9 Oro om W DF b Answer. 15 bus. @ 50¢. 3 16 “4 See 30 éé 6c 90 «6 25 Ibs. @ 8c. 4 r , A : WAS) éé &é go ke 150 “ “414 10 bbls. @ $8 290 6c . éé 9 20 be be 19 5 or, 7 4bbls. @ $ 8 28 ce é 9 (18 (a3 (a3 12 Percentage. 90% $22.800 182.50 2.25 16.20 8375 Jo ; - % . $3550.00 . $350 es 6% When sold at $1000. 1 of $100 = $16.67 11 “ $1000 = 15.00 Difference to salesmen, $1.67 jt Oa ab Page 68, Ex, 9 $100 00 Profit. $100 16.67 Salesman’s share. 15 Salesman’s com. — $85 Firm’s profit. $83.33 Firm’s profit. When sold at $950. 15% of $950 = $14.25 i cx” 950 = >, -8.33 Difference to salesman, $5.92 $100 First profit. 50 $50.00 Second profit. 7 8.33 Saleman’s share of $50. $41.67 Firm’s profit. $100 First profit. 50 50.00 Second profit. 14.25 Salesman’s com. on $950. $35.75 Firm’s profits. Difference to Firm. Sharing Profit. On Com Firm’s profit when sold for $1000 $83.33 85.00 “ “ 950 41.67 35.75 Difference to firm, $41.66 $49.25 2% B 18 dy. Page 58, Ex. 9, Difference to Salesman. of 100 = $16.67 11% of $1000 = $15. “50 8 33 11“ 950=— 14.95 $8.34 15 : bor el P) Le Notrr.—It will be noticed that while the difference to the salesman when selling on commission is only 75¢c., or 5 per cent. less, to the firm the difference is $49.25, reducing their profit more than half; but that when the profits are shared, the difference between the firm’s share and the salesman’s share is not so great ; and therefore there would be more in- ducement to sell for the best interest of the firm, when the profits are shared, than when a commission is paid on the amount sold. Page. § Art, Example. \ F Answer. 58 106 col Oe : ; : ; - 50% Commission. 61 113 2 $2503.12 3 3 $2613.75 Hs 2 4 ; : $13920.00 . a apres : : ‘ $3000.00 sy 6 $9600.00 62 (fey. : $4000.00 " . 8 776 x 100 +100—3 = 800 = ut Sh ae : : : . $TT9.49 « wo 9) 2 a e Clare ; : ; : . 2% ‘ ¥ 12 5% « “ 18 $714 x 100-+ 100 + 2 = 700 ce” i 14 . $6141.39 x 100 + 100 + 47 = $6430.77 KEY. 19 Page, Art, Example. Answer, 62 Pie 2 Lo ; . Purchases, $512.20 Com. $12.80 ae ais! 1K ee , Purchased, $3495.15 Com. $104.84 i a 17 ; F . Performed. at, + tS); 8165 — 845 = $156.55 RAD 55 x 100 + 6262 = 27% 63 it 20 y ; . $5888.30 a . ay, . Goods, $64000. | 7 Com. 1600. Insurance. 68 126 Det. es : ; : $53.50 - sine ns 3 . $147.47 “4 E 5 . $25.50 - As Ge) ; ; } . $112.00. ff s 7 : ey $25.00 ee a 8 | . $120.00 Ls “4 9 $10.50 Miscellaneous Examples. 72 134 | i eer : $9.777.22 « “ D) . 28.872 a a ee . 2% «“ a“ 4 $18925 éé a3 6 F 3% Taxes, 15 143 B} $934, é 6c 4 : 218% 20 KEW. Interest. Example. Answer. eee $25.43 4 $143.80 5 $29.87 6 $75.35 1 $8.25 2 $108.58 3 $81.79 Problems in Interest. ee 3 $2938.09 4 : 3 $1012.50 bt ee 3 : : $2700.00 6 . $12580.00 T $3833.33 8 ; ; $2000.00 1éys. 8 mos. at 6% 2 J “ 3 “ 128ds.@™% 12 bc 6 6c ; 6“ 8% 3 (75042 + 365) 2yrs. 20,43, ds. : je at 5% 1879131 taree True Discount. ee . Present worth, $1200. Discount, $48. 3 : Present worth, $157.00 Discount, 5.50 LEY: 21 Banking. Page. Art. Example, Answer. 86 176 y's a ‘ ; ; 0345557 ’ Time. Disc’t. Net Proceeds. = bs 3 Té6 ds. - $9.50 $740.50 os ee 4 fey $7.54 $1243.21 a3 i 5 ede oh $5.26 $445.25 ff . 6 . GO“ . $18.75 $1856.25 87 177 2 $1822.66 8 , 3 $6153.85 i NE 4 $4876.58 88 178 2 $5530.42 ° = 3 . $428.50 Interest Accounts. 93 184 be : ; $300 x 15 = 4500 200 x 10 = 2000 300 x 10 = 3000 OU Mae eeu 300.X 22 = 6600 Total Bal. for 1 day, 16150 Int. on $16150 for 1 day at 6% = $2.69 Bal. of Debit and Credit Amts.= 300.00 Bal. due Mar. 1, $302.69 For the purpose of practice, the accounts of Ben- nett & Co., L. & B. Curtis, and Geo. M. Grant, may each be worked out by the three methods. The re- sults should agree with those in the book. 22 KEY. Partial Payments. Art. ‘Example. _ Answer, 1d ot ae eae . $1982,00 192 2 ae : ; $105.33 Average of Payments. 3 eC FS 3 i ; Jan. 8, 1868. “i 4 .. . Average, July 22, 1868. 3 mos. and 3 days grace backward brings the date of the note to Apr. 19. Apr. 15, 1868. .. Mar. 10, 1868. 203 T Average, Apr. 17, 1868. Date of Notes. Ist. Jan. 2, 1868. o> On 2d. Feb ans 3d... (Mar*oeees 4th. Apr 37 206 4 : Due Oct. 23, 1866. KEY. 23 Account of PARKER BURTON. (Page 113.) Ist OPERATION. (By. Art. 205.) Debit Side. Date. Time of Time from 1866, Credit. When due. Amt. ear. date. Product. ‘May 22, 3mos. Aug. 22, $500 43 21500 urn: . ee 3250 50 12500 June ld, 30ds. July 10, 150 0 000 900 )34000 oor 38 days from July 10 = Aug. 17. Credit Side. Date. Time of Time from 1866, Credit, When due. Amt. ear, date. Product. May 25, 0 May 25, $300 0 00 June 9, 0 June 9, 400 15 6000 July 2, 0 July 2, 100 38 3800 800 )9800 12+ 12 days from May 25 = June 6. From June 6 to Aug. 17 = 72 days. 800 x 72 = 57600. $900—$800 = $100. Bal. of %. 57600 + 100 = 576. 576 days from Aug. 17 (allowing for leap year) = Mar. 15, 1868. Notr. — 38 days on the debit side is 2 of a day too much. feiss ee CEeGib a pe nyay. 6 «¢ -~ little. 2+4—1%, (72—1ix800 = 572+.) 800x174 100 = 4 nearly, which equals the difference between the results in this and the following operation. i- 24 KEY. Account of PARKER BURTON. (Page 113.) 2p OPERATION. (By Art. 206.) Debit Side. Date, Time of Time for 1866, Credit. « When Due, Amt. ear, date. Product. May 22, 3mos. Aug. 22, $500 x 89 44500 fier P i Fe 250 x 96 24000 June 10, 30 ds. July 10, 150 x 46 6900 900 75400 Credit Side. Date. Time of When due. Time from 1866, Credit. 1866. Amt. ear. date. Product. May 25, 0 May 25, 300 0 00 June 9, 0 June 9, 400 1s 6000 July 2, 0 July 2, 100 38 3800 —— ee 800 9800 75400 — 9800 = 65600. 900 — 800 = 100 Bal. 65600 ~ 100 = 656, the number of days to be counted from May 25, 1866. Ans. Mar. 11, 1868. KE Y:. - Account of PARKER BU (Page 113.) 3p OPERATION. 25 RTON. (By Abbreviated Method.) Debit Side. Date. Time of Time from 1866. Credit. May 22, 3ms. $500 0O 3ms. 22ds be 6c sé 29, 250 Junel@, 1 mo. $900 We Total Debit’Int —6 Credit Side. Date. Time of Time from 1866. Credit. Amt. ear. mo. Total Time. May 25, 0 300 0 25 ds. wune 9, 0 400 Imo 1m. 9ds. mays 0 100 2 * 2m. 2 ds. $800 Total Credit Int $32.07 — $9.67 = $22.40. $900 Amt. ear.mo. Total Time. 3ms. 29 ds. 150 1m. 2ms. 10ds. Int. at 12 per cent. . $15.00 int. 3 ms. 20 Ge Luss LAG ere TOOy ESS 1.66 ‘ 20ds. ad Ga SES RS 3.00 “ Qms. 50 “ 10ds. { i $32.07 Int. at 12 per cent. 2.00 int. 20 ds. AQ 6c 5 é 4.0005" “imi LaGe Sh aise 2.80) Sor Sure. bette i es . $9.67 — $800 = $100. ae on $100 for lyr. at 12% = $12. 26 KEY. 22.40 + 12 = 1.866 12 mos. in @ year. 10.392 30 days in a mo. 11.760 Ans. lyr. 10ms. 12 ds. from May 1, 1866, or March 11, 1868. Notr.— The three preceding operations are given for the purpose of comparison. When the balance ef account is small, the fractions will affeet the results, frequently causing a difference. The second operation, (by Art. 206,) being free from fractions, except in the final result, and having the exact time in days, is most nearly accurate, and is there- fore much used. Account of R..P.. LOSSING & CO. (Page 113.) (By Art. 205.) Mar. 10, 251 June 15, 188 x 97= 18236 Aug. 14, 262 x 157= 41184 “ 94 466 167 = 17822 ———— 1167 )137192 137192 + 1167 = 118 Mar. 10 + 118ds. = July 16. 1167 — $571 = $596 Bal. of Y%. KEY. yf Mar. 20, 251 ‘Apr. 1,120x 12—= 4440 “ 96150 x 87 = 5550 May 24, 50x 65= 3250 571 )10240 10240 + 571 = 18 Mar. 20 + 18ds. = Apr. 7. From Apr. 7, to July 16 = 90 days. 571 x 90 = 51390 + 596 = 86. 86 days from July 6 = Sept. 30. (By Art. 206.) _ Mar. 10, 251 pune 15, 188 x~ 97 = 18236 Aug. 14, 262 x 15T= 41134 aa 4 AGG 167 —— 17 1822 1167 137192 511 16050 596 )121142(203 days. 1192 1940 1788 203 days from Mar. 10 = Sept. 30. Mar. 20, 251 x 10 = 2510 Apr. 1,120 x 22= 2640 “ 96 150 x 47 = 17050 May 24, 50 x 75= 3850 ns 571 16050 28 K EY. (By Abbreviated Method. ) 251 9 £153 251 19'S Sale 188. _ 3.14 6.517 120s 1.24 262 5.13 14.235 150. =: 1.25 2.75 466 5.23 26.872 50 = -2..23 1.383 1167 48.377 571 6.962 dT1 6.962 3)596 .198) 41.415(209 days from Mar. 1 = a 39 6 Sept. 26. .198 Int.for 1 day 1815 1 782 By adding 1 day whenever the month contains 31 days, the average time will be found to be Sept. 30, as in the two preceding operations. Page, 139 6c 140 144 145 Domestic Exchange. Art. Example. Answer. 266. 2 .. . nS 3 n : : $8.44 reed ; é , . $571.43 v2 Ds : : $1574.31 as 6 On Goods, $416.67 “ Draft, $112.50 529.17 (a3 7 : ’ : ; $2736.28 | 2763.82 Sterling Exchange. 272 4 , : ; : ; $7200 i 5 . $725 973 8. . -. «| £67 : 4 £586. 19s. 13 d. KEY. 29 Exchange on France. Page, Art, Example. Answer, 148 274 wee, 2 F : $746.73 s 3 . , , . $387.34 ne i 1 : ; . 51% Custom-house Business. 153 289 2 E ‘ : : $97.42 as Us ae ; i : $476.87 us, vi ‘i : j : . $2161.46 Profit and Loss. 155 295 oe ; ; d $1897.50 ” 4 | Sold for $3048. ; ' ( Gain $648. a3 a3 ae | Gain $187.59 Sold for $1688.34 as _ 6 ; : d $1.20 Miscellaneous Examples. (See Art, 73.) Total, Steel Pens, 15 $1.25 $1.50 : $6.25 Bonnets, Ser fs f ; A 7.50 Tassels, o1:877 ! $ aa ey Sewed Boots, 5.00 ; ; . 60.00 Gaiter ‘ Dep Oies. . : : : 105.00 Delaine, TD : ; . 180.00 Cravats, $15, $18.75, $20, 45 ST.o0 140.00 222.50 $590.62 3% Page, Art, 156 296 66 6c 157 298 * 299 160 305 161 306 162 Goods. Shawls, Sheeting, Hdkfs., ‘Muslin, Delaine, KE Y. Example. 2 bo Ww e Ov me OO Discounting Bills. 5) 4 4 5 6 T 8 (See Art, 73.) Cost. 25 per cent. Advance. 86.75 $8.44 = 95% of 15 Lo 3.00 5:1 oe 20 2 24 Bad Uy Total cost of Invoice, $133.23. $176.84+ : 50 $157.90 $141.82 Selling price in- cluding 5 per cent. discount. $8.88 .20 3.95 .26 .o2 KEY. 3 ol Price Lists. (Page 163.) Wire-bound Brushes. Price. 20 per cent. Selling Price, Cost. $2.00 — 40 = $1.60 = 110% of cost, $1.45+4+ Ans. 250—50= 200=— “ e } ey es 2.00 —60= 240=> “* - ON Uy Sea spe —i0 = 2.80=— “ a 00 tea Kalsomine Brushes. Price. 20 per oent. Selling Price. Cost. $24 — $4.80 = $19.20 = 110% of as $18.36 Ans. 33 — 6.60= 2640=> “ 24.00 ‘ a2 $409=> 33.60= “ i 1S ys es 48— 9.60= 3840= “ = 34.91 “ 57 — 1140 => 4660= “* vp 42.36 “ Carriage Bolts. Size. List Price. 20 per cent. Selling Price. Cost. lin. 2,50— .50 = $2.00 = LN of et $1.82 fe oO —. 62 — 2.48 — 2.25 eae os ——) fo. 2.92. = a ey 2.66 fe aoe — .91 = 3.64-=— . eS 3.31 Seer — 1.05 — £20— — * 4 3.82 2. Pee 1.58 = 6.rlo=— rR ‘fe 5.56. a 848 —169=> 63]9= “ oe §.17 iS : KEY. Tire Bolts. Size. List Price, 20 per cent. Selling Price, Cost - ;;in. $1.50 — 30 = $1.20 = 110% of cost, $1.09 UD a 1.68 —33 = 1:35 = ms of 1.23 22 1.75 — 385 = 1.40 = - 1.27 2°, “ 2.41—48 = 1.93 = Ss + 1.76 Wrought Axle Clips. Size, List Price. 20 per cent. Selling Price. Cost. 0.1&2 $1.05 — 21 = 84 = 110% of cost, 76 3 1.10 —7 22 ==) 88 = - i 80 4 1.20 — 24 = 96 = . re 87 Miscellaneous. Selling price = 110% of 115% of cost. Allowing 10 per cent, Goods, Cost, 15 per cent, allowance. Discount, Amer. Glass, $1.40 $1.61 =—90% of $1.79 Tire Bolt, 1.00 1: Lone i 1.28 Muslin, .20 23 = “ .26 Pens, .90 1.04 = . 115 Carmine Ink, 2.00 2:30 "= 2.55 Broadcloth, 2.40 276 = & 3.07 Amer. Cyclop’d’s, 60 00° 69:00 ==" 76.66 Enam’l’d Cards, 40 46. =e OL Pencils, 3.00 3.4) = : 3.83 Paper, 35 40 = ™ 44 KEY. 30 Foreign Invoices. (Page 165.) Goods which are marked at £18 5s. 4d., cost us here $96.32. Therefore, to find the value of a shil- ling or penny, we divide $96.32 by £18 5s. 4d., which gives us about 2c. as the value of a penny, 261 ¢c. as the value of a shilling, and $5.26 as the value of a pound. To find the cost of each item, multiply the given price by the value as above. O78. = $7.15 £2 Ts. 3d. = $12.47 1 3d.= 5.33 6s.= 1,58 9s. = %.37 Bae” 2:11 53s,4d.= °1.41 fs,== 1.32 ae ae lO Ge = 18.43 £318s.6d.= 20.67 ET a 8-5 = 18.17 £11%7s.6d.= 9.88 9s.3d.== .59 13s. 6d. = 3.57 eee ==, .66 10s. = 2.63 6s. = 1.59 5s. = 1.32 Total cost, $96.25 Making an allowance for fractions of 7 c¢., this re- sult agrees with the total cost of the Invoice. EXPLANATION. — Queensware is counted by dozens; 12 of a certain size is taken as a standard; then a dozen of only half the standard size contains 24 pieces, if 2 the standard size 18 pieces. 18 means eighteen pieces of the size No. 18, and consequently contains only 1 dozen standard size. 3% means 18 of the size No. 24, and is ? doz. 18 and i§ = 1% doz. The number under the line shows the size, the number above how many pieces are taken. 34 KEY. (Page 166.) Price. Quantity. Total. 11.50 —3%=11.15 @ 421=$4.72 x 13 kilo.= $61.36 12.50— “ =12.12@ “ = 5.131205 eee 36. “ =15.24x 4 gTo.=—= 6096 42, “ -17.18X 3 “ = 53.34 48. “ . 20.82 6°29 eee 6. bh 2.54x 36doz.== 91.44 51 — 4% = 48.95 “« 20.72 5 gro. = 103.60 63 — “ = 60.50 ‘¢ -_ 25.61% 0 7 eee 21 — 2% = 20.60 “ = 8.12% 4 eTO) == odes 83° — SS 3332.30 S =13.69 XS See 338: — “==. 32835 ‘* =213.69X 3 > See 45 — “ = 44.10 “ =18.61X< 3° “Sees 45 —— *" = 44.10 “ =518.67 < 19s $792.65 Allowance for fractions, .28 Proof, $792.93 Pages 168 and 169. (See Art, 272, 72, 51, and page 161,) Case 170. First cost,£ 4.108. 9d. at par= $20.17 Mar as fa Te 13. 8“ Qt) 6 ee eee “ 169. ihe iad 10.. 7. 1S 9 Se First cost of goods, £28. 6s.6d. “ =$125.90 General Charges. Com., &c., in Liverpool, £2.9s.7d.@ par =$11.02 Am’t paid in Phila., $87. Less duties, $52.65= 34.35 Prem. on Bill of Ex. for £ 32.188. 7d. @9?%= 13.90 _ $59.27 $59.27 = 474 % of first cost. KEY. 35 Case 170. First cost, £4. 10s. 9d. at par = $20.17 Freight, paper, &c., 10s. 3d. = $2.28 Special charges. Duties on £5. 1s. ((@ $4.84 per £ = $24,) @ 40% = 9.60 11.88 $11.88 = 59% of $20.17 General charges = 47% “ “« Total charges = 106% “ “ = $21.38 Total charges, $21.38 + first cost, $20.17 = Total cost, $41.55. Then £4. 10s. 9d. cost $41.55, and 1 shilling = 46c. nearly, 1d. = 4 cents. Case 171. First cost £13. 8s. 2d. at par = $59.60 Freight, &.,19s.9d. = $4.87 Special charges. ‘ Duties on £14. 8s. ($69.70) @ 35% = 24.39 $29.26 $29.26 = 49+% of first cost, $59.60 General charges = 47 % “ «< Total charges = 96 % “ $59.60, = $57.22 $59.60+$57.22 = total cost, $116.82 £13. 8s. 2d. cost $116.82. 1ls==43i+¢. 1d.=32c. 36 KEY. Case 169. First cost £10. 7s. Td. at par = $46.13 Freight, 12s. 6d. = 4 278 Special charges. Duties on £ 11. ($53.24) @ 35% = 18.63 $21.41 $21.41 = 461% (nearly) of gee pe General charges, 47 to és Total charges, 9319), of first cost, $46.13 = $43.13 $46.13+$43.13 = total cost, $89.26. £10. 7s. 7d. cost $89.26. 1s. —=43¢. dessa Recapitulation. Total cost of case 170, $41.55 « ST AP 6.88 “ « & 169 89.96 $247.63 Allowance must be made for fractions: generally that fraction approximating the true value is taken, which is most convenient for easy calculation. For practical purposes, and as the most easily cal- culated when approximate values are all that are re- quired, the method on the following page is frequently employed. KEY. 3” [ob Pages 468 and 169, By Art. 272, £32. 18s, Td. at par = $146.34 9°% of $146.34 = $13.90 Add charges paid in Phila., 87.00 Total charges, $100.90 Par value of invoice, 146.34 Total or advanced cost, $247.24 Goods in case 170, £ 4.108. 9d. “ ROP TT 13. 88. 9d. “ PAGO = 10. 8. Td. £28. 68. 6d. Then, if £28. 6s. 6d. cost $247.24, 1 shilling cost 432 ¢c., 1d. cost 33 ¢. nearly, about one cent on a dol- lar too much. (See Art, 73.) 25 per cent, Allowing 5 per Case 170. advance. cent, disct. 6s. 9d. = $2.97 $3.71 $3.90 9s. 6d.= 4.18 5.22 5.60 Peeeiae. &d. = 82.78 40.97 43.13 Case 171. fee ot hd = 13.01 22.51 23.69 peri ae fords ==.99,99 125.00 ES L57 Case 169. eaten. ¢ d, == 91:33 114.16 120.17 $249.26 $311.57 $328.06 The price per doz., or of any particular lot, may be found by first deducting the discount in the in- voice, if any, and then finding the value of the re- 4 38 KEY. mainder of the price at the rate of 32. per penny, as above, as in preceding invoices. Or, divide the value as above found by the number of doz. or ar- ticles in the lot. Quick Sales and Small Profits. (Page 171.) 105 — 95 = $10 gain on $95. 10,00 + 95 = 1019% gain on amount invested. 11019 of $4000 = $4421.05 — $200 = $4221.05, the proceeds at close of first month. 11019% of $4221.05 — $200 = proceeds of second month, &e. Page 178, Art, 314, 6 Marks with- With First costs Selling price. out repeaters. repeaters. $1.10 $1.45 che che .50 .66 rr rf 1.00 P30 emd emd 4.80 5.52 eeu efu 2.50 3.30 mmd mfd Ld 1.84 cab cab 3.00 4.13 bem bem Annual Production. (Page 173.) Silver, Gold. Coin valuation, $81,904,054 188,677,413 30% premium, 24,571,216 56,603,224 $106,475,270 $245 280,637 106,475,270 $351,755,907 a Ve . 39 Partnership Settlements. Page. Art. Example. Answer, 175 319 2 Lost, $14,000 She 320 3 First, 10000 Second, 5000 Third, 2000 Fourth, 1000 $18,000 Page 182, Ex, 6, Resources, Liabilities, Cash, $4,250.00 Bills Pay., $500.00 Mdse., 16,500.00 Pers. Debts, 630.35 Bills Ree., 1,000.00 Pers. Debts, 4,120.67 $1,130.35 — Firms net capital, 24,740.32 $25,870.67 $25,870.67 A’s investment, $6,000.00 Int. 1 yr., 360.00 = $6,360.00 Am’t withdrawn, 1,007.57 Interest, 20.15 1,027.72 A’s credit bal. $5,332.28 B’s investment, $6,000.00 Int. 1 yr., 360.00 | , - $6,360.00 Am’t withdrawn, 2,049.61 Interest, 20.50 2,070.11 es one ore B’s credit bal., $4,289.89 ee ee — 40 KEY. ; C’s investment, $6,000.00 Tot: icyr 360.00 — $6,360.00 Am’t withdrawn, $3,213.92 Interest, 28.12 3,242.04 $3,117.96 Firm’s present worth, $24,740.32 A’s credit bal., $5,332.28 Bs “ “ 4989.89 Os “ “ 8117.96 19,740.18 Firm’s net gain, $12,000.19 A’s credit bal., $5,332.28 B’s credit bal., $4,289.89 4 gains, 4,000.06 4 gains, 4,000.06 ee A’s net cap., $9,332.34 B’s net cap., $8,289.95 C’s credit bal., $3,117.96 4 gains, 4,000.07 ©’s net cap., $7,118.03 Proof. A’s net capital, $9,332.34 B’s “ ‘ 8,289.95 Og « 7,118.03 Firm’s net cap., as above, $24,740.32 Page. Art. Example. Answer. 193 300 Lime : : $139,965,374.32 Each inhabitant, $4.67 . i 9 Annual int., $169,672,137.54 Each inhabitant’s share, $4.84- KEY. 41 Dividends and Investments. Page, Art. Example, Answer, 197 851 2 $2000 200 354 3 $66.67 4 ts 4 $83.33 r F P { Ist. $75 2d. $60 201 356 3 $33.480 ig 357 3 . $50 i 358 2 $96.87? 202 ii 8! $97.46 Miscellaneous Examples. Seeeeesis Fs, |. 10-408 by 34% : -, 3 . failroad stock by 4$32% a bg ae : : 15% United States Bonds in Europe. 204 358 2 ; ; : . $5164.22 a * oats : ‘ : $5.050.19 205 = 2 : , Ill. Cen., $116.89 Erie, $56.95 ri o 5 tae : i . $6.80 per £. be Compound Interest. 206 360 2 : Of $425. $111.55 AS 73.81 209 365 2 3 yrs. 6mos. at 12% = Tyrs. | (@ 6%. / ks ~ =. OFT; = PA. yee been) DD hes SSCW Bey SSP ere = = . = ir ee oe ed A Oa ae ae Pets eee eee MODEL TEXT-BOOKS, SCHOOLS, ACADEMIES, AND COLLEGES, PUBLISHED BY ELDREDGE & BROTHER, 17 & 19 SOUTH SIXTH ST., PHILA., PA. CHASE & STUART'S CLASSICAL SERIES. 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