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.
