Page:LA2-NSRW-5-0212.jpg



2196                                                                 ARITHMETIC

8.   What is the gain % of goods which cost $4800, sell at a gain of $720?

9.   A farmer sold a cow for $50, which was 80% of the cost. What was his loss?

10.  A farm of 50 A. sold for $3000, at a gain of 20%. What was the profit per acre?

The following problems often give pupils trouble:

1.   A man sold 2 horses at $274.40 each, gaining 12% on one and losing 12% on the other. What did he gain or lose?

100% + 12% = 112%                        100% —12% = 88%

$274.40 = 112% of the cost                 $274.40 ±= 88% of the cost

$274.40 -f-1.12 = $245, cost of 1         $274.40 ~ .88 = $311.81, cost of horse                                                    other horse

cost of 2 horses      selling price

(245. -f 311.81) — 548.80 = $8.01 lost.

2.   A farm was sold for $6014 at an advance of 24%. What % would have been gained if the farm had been sold for $5456.25 ?

$6014 = 124%.

6014 -f- 1.24 = 4850 cost of farm.

5456.25 — 4850. = $606.25 gain.

606.25 -f- 4850. = 12y2% gain.

Mr. Brown sold a lot of grain for $973.50 at a gain of 18%. At what price should it have been sold to gain 25%?

INSURANCE.

The three necessary factors in Insurance are, sum insured, premium, and rate of insurance.

The premium is the sum paid for the insurance.

There are four common forms of Insurance: Fire, Marine, Accident, and Life.

The policy is the written agreement between the company and the party insured.

Property is insured for less than its full value. Why?

1. A house is valued at $8460 and is insured for f of its value at f%. What is the premium.

f of 8460 = 5640 (f of the value of the house).

141

f % = .00} = T|f         3^ of ^€40*=: $42.30 premium.