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is discounted until due, and they moreover only recken 30 days to the month, this makes the interest for part more than the true. 1. To find the interest or bank discount for 60 days, at 6 per cent.

per annum. RULE-As 100 X360 : 6 per cent. :: principal x 60 : interest, hence, 100 X360---6X60=100 the divisor for any sum at 6 per cent. per annum for 60 days.

N. B. When the time is less or more than days, take parts which add or subtract.

EXAMPLES. 1. What bank discount must be charged on a note of $1152, at 6 per cent ? $1152---100=$11 52 cts. Ans.

2. What discount must I pay at the bank on a note of $705 50 cts. at 6 per cent ?

Ans. $7 54 cts. 3. How much will I receive at the bank for Q. R. & Co's. note of $817 25 cts. due in 60 days! Ans. $809 74 cts.

4. What credit will I get at the bank for F. G. & H's. note of $2071, due 60 days hence ? Ans. $2050 29 cts.

5. What will be the discount on 8510, 42 days to run, at & per cent. per annum ?

$. c.

5.10 interest or bank discount for 60 days. 30 days=)=2.55 ditto for 30 days. 12 days=}=1.02 ditto for 12 days.

Answer, $3.57 ditto for 42 days. 6. Discounted at the State Bank J. & F. promissory note for $925, 50 days to run; also D. W. & Coʻs. for $1181, 56 days to run. What sum may I draw for, and reserve $817 75 cts. to pay my note in favor of J. & A. K. due in 8 days? 1269.57

Ans. $1369 3110 cts. 7. How much is the discount on $519, due in 72 days, at 6 per cent. per annum ?

$. cts.

5.19 discount for 60 days. 12 days=1=1.03.8 ditto for 12 days.

days. Answer, $6.22.8 ditto for 72 days. 8. Deposited in the bank 8800 in cash, A. B. & Co's, promissory note for $1324, due in 3 days ; also for discount S. & O's. promissory note for $783, 63 days to run, and T. M's, for $1113, 66 days to run: How will the account stand after the following checks, viz: to W..C. for $592, to R. & M. for $213146, to G. R. for $945-160, and to H. G. for $6111 aze paid by the bank? Ans.

in bank $1637 10c. 51 m.

II. To find the interest or bank discount at 4, 5, 7 and 8 per

cent. RULE- Find the discount at 6 per cent. as before ; subtract for 5, and for 4 per cent; and add f for 7, and for

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EXAMPLES. 9. What would be the interest or bank discount, on $625, for 72 days at 5 per cent. per annum ?

6.25 interest for 60 days, at 6 per cent. 12 days=_=1.25 ditto, for 12 days, at 6 per cent.

$7.50 ditto, for 72 days, at 6 per cent. Subtract 4 part 1.25

Answer, $6.25 ditto, for 72 days, at 5 per cent. 10. Required the interest on $972 for 80 days 7 per cent. per annum?:

Ans. $15 12 cts. 11. What is the interest on $1320 for 76 days, at 5 per cent. per amum ?

Ans. $13 93} cts. 12. Tell me the interest on $1076 for 55 days, at 4 per cent. per annum ?

Ans, 86 57 cts. 13. Cast up the interest on 896 for 68 days at 8 per cent. per annum ?

Ans. $1 45 cts. Of m.

per lb.

CUSTOM-HOUSE DUTIES. 1. When the duties are rated at so much per lb. gal. doz. &c.

RULE-Reduce the commodity to the denomination mentioned in the duties; then multiply by the duty, the product is the answer,

EXAMPLES. 1. Required the duty on 9 cwt. 2 qrs. 14 lb. of sugar at 1 c.

Ans. $10 78 cents. 2. What is the duty on 828 dozen of porter at 20 cts. per dozen ?

Ans. $165 60 cents. 3 What is the duty on 2cwt. 3 qrs. 20 lb. of coffee at 2} cts.

Ans. $8 20 c. 4. What will the duties on 25 hhds. of Madeira wine amount to at 18 cts. per gallon? Ans. $283 50 c.

5. I demand the amount of duty on 5 cwt. 3 qrs. 17 lb. of cheese at 4 cents per lb.

Ans. $26 44c II. When the duties are rated at so much per cent. ad valorem

Rule To find the ad volorem rates of duty on merchandise, add 20 per cent to the actual cost thereof if imported


per lb.

from, or beyond the cape of Good Hope, and 10 per cent if imported from any other place, including all charges, commissions, outside packages, and insurance excepted, then by the rule for interest find the duty. Tke rates at which all foreign coins and currencies are estimated at the Custom-Houses of the United States

Dols. Cts. Each pound sterling of Great Britain, at

44 Each pound sterling of Ireland

10 Each livre tournois of France

181 Each florin or gilder of the United Netherlands - 40 Each mark banco of Hamburgh

331 Each rix dollar of Denmark

1 Each real of plate of Spain

10 Each real of vellon of Spain

5 Each milree of Portugal

Each tale of China
Each pagoda of India
Each rupee of Bengal

EXAMPLES. 6. What will be the amount of duty on a case of artificial flowers, feathers, and other ornaments for head dresses, ao mounting to 831. 178. 9d. sterling, the duties 15 per cent. ad val.

Ans. $61.4559825. 7. What is the duty on the above articles

if imported in a foreign vessel, the rate being 10 per cent more than an Amer. ican vessel ?


867.60158075. 8. What is the duty on an invoice of gold watches imported from Paris, the cost exclusive of commission, being 18750 livres tournois, at 15 per cent ad valorem ? Ans. 572.34375

9. What will be the duty on the above if imported in a foreign vessel, at 164 per cent ad valorem? Ans. $629.578125

10. What is the amount of duty on an invoice of cotton goods imported from the East Indies, the prime cost being 15400 pagoda, at 124 per cent ad valorem.

Ans. $4250.40

EQUATION OF PAYMENTS Is when several debts are payable at different times, to find a mean time for paying the whole debt to do wlich the following is the common

RULE-Multiply each payment by its time, and divide the sum of the products by the sum of the payments ; the quotient will be the equated time.


60 days.

1. A. owes B. $600 to pay at 40 days, $200 at 60 days, and S200 at 120 days. When may these debts be paid at once, without injury to either party ?

Ans. 2. A. bought goods of B. for £640 whereof £100 is to be paid presently, £300 at the end of 4 months, and £240 at 8 months : Required the equated time for paying the whole debt?

Ans. 43 months. 3. William bought of Peter a quantity of goods on the fol. lowing terms, viz. I part cash, 1 in 6 months, and the remaining 1 in 8 months ; but they afterwards agreed to settle the whole at one equated time, which is now required ?

Ans. 4 months. 4. Eben is indebted to Frederick £240, which by agreement is to be paid at 5 months hence ; but Eben is willing to pay him £40 down, provided he will give him a longer time for the payment of the remainder, which is agreed on : Required the time of payment ?

Ans. 6 months.

BARTER. Barter, teaches merchants to exchange goods of different prices and quantities, so as to receive no loss by such truck or change.

1. When the quantity of one commodity is given with its value, to find an equivalent quantity of another commodity at its proposed value.

RULE-As the value of the given quantity: is to the given quantity :: so is the value of the required quantity: to the required quantity.

EXAMPLES. 1. How much tea at 7s. 6d. per lb. must be given in barter for 124 gallons of rum at 8s. 531. per gallon ?

Ans. 1397816. 2. A merchant has 1000 lb. of cheese which he barters at 9 d. per lb. for sugar at 10d. per ib. how much sugar must he receive ?

Ans. 926116. 3. How much coffee at 2s. 3d. per lb. must be given in barter for 41 cwt. 2 qrs. 14 lb. of potash at 561. per ton?

Ans. Gcwt. lqr. 4. How much brandy at $1 25 cents per gallon, must be give en in barter for 96 bushels of wheat at $1 75 cts. per bushel ?

Ane, 134126 gallons, H

II. When the quantities of two commodities are given with the rate of selling them, to find in case of difference, what money, or how much of any other commodity must be given.

Rule-Find the separate values of the given commodities, their difference is the money or amount of the other commodity.

EXAMPLES. 5. A. and B. barter ; A. gets 20 hats, at 21s. 6d. per piece ; B. gets 8 pieces of linen at 31. 14s. per piece ; what is the balance and to whom due ? Ans. balance due B. 81. 28.

6. Two merchants barter ; A. has 32 cwt. of cheese at $64 per cwt. and B. has 126 gallons of rum at 112 cents per gallon, and the balance in rice at 8 cents per lb. What quantity of rice must A. receive from B. Ans. 82&flb.

7. A. and B. would barter; A, has 273 bushels of wheat at 13s. per bushel, for which B. gives him a hogshead of sugar weighing 16cwt. 1 qr. 21 lb. neat, at 86s. per cwt. and the balance in calico at 4s. 6d. per yard: How many yards of calico must A, receive from B? Ans. 474 10 yds. III. When one commodity is advanced above the ready money

price in bartei, to find what price any other article should be rated at so as to make the barter equal.

RULE--As the ready money price of the one commodity: is to its bartering price :: So is the ready money price of the other commodity : to its bartering price.

Note-The required quantity may be found either by the ready money or bartering price.

EXAMPLES. 8. A. hath 100 yards of broadcloth at 365: per yard ready money, which he barters with B. at 42s. for buttons worth 12s. per gross ready money: How many gross must A. receive, and how must B. rate them in barter, so as to be on a footing with A! Ans. 300 gross, and 14s. the barter price.

9. A. has 150 lb. of indigo which cost him 58. per lb. which he barters at 58. 10d. with B. who has wheat that cost him 12s. per bushel, at how much must B. charge his wheat to gain in proportion as much as A. and how many bushels is he to deliver.

Ans 624 bushels at 14s. 10. A. has German Osnaburghs at 32 cents per ell ready money, but in barter he will have 36 cents. B. has James River tobacco at 6 cents per lb. ready money: At what rate must B. value his tobacco to be equivalent to A's bartering price, and how many ells of Osnaburghs, must then be given by A. for 13 hogsheads of B's tobacco, weighing 18135 lb.

Ans. B’s tobacco 6f cts. per 16. 34001 : ells, Osna.

neat ?

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