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2198                                                                 ARITHMETIC

Find the net price of an article listed at $18.75 if the discounts are 20% and 10%.

List price  $18.75 The first discount is 20% of 18.75 = 3.75. Less 20%. 3.75

Remainder  15.00

Less 10%      1.50 The second discount is 10% of 15.00 = 1.50.

Net price    13.50

EXERCISE 36.

1.   A dealer sold a piano listed at $500, allowing 30% and 10% off. How much did he receive?

2.   Find the net amount of. a bill for $375, subject to discounts of 25% and 10%.

3.   An agent buys a machine for $150 at a discount of 30% and 12-J%. He sells it an advance of 5% on the list price. What is his profit?

4.   What is the net cost of a bath-tub listed at $150, and sold at a discount of 40% and 10%?

5.   The list price of a lot  of goods  amounts to  $575. They are bought subject to the following discounts, 30% 10%, and 5%. What is the net sum paid?

COMMISSION.

Commission or brokerage is the amount paid to an agent for the transaction of business.

The agent is called a broker, collector, or commission merchant.

The net proceeds is the money left after the commission and other charges are paid.

A book agent receives a commission of 40%. What would be his commission on the sale of a set of encyclopedias for $65 ? What would be the net proceeds?

$65

___.40

$26.00 = commission of agent.

$65 — $26 = $39, net proceeds. *

A real estate agent sold a house for $8500 and charged $255 for his commission. What per cent did he charge ?

____.03

8500)255.00             Divide the commission by the selling price to find the

255.00       per cent charged.