Goods which are bought for £193. 12, are sold for £216. 13. 4; how much per cent has been gained by them?
Answer, A little less than £11. 18. 6.
A sells goods for B to the amount of £230. 12, and is allowed a commission[51] of 3 per cent; what does that amount to?
Answer, £6 . 18. 4¼ ⁷/₂₅.
A stockbroker buys £1700 stock, brokerage being at £⅛ per cent; what does he receive?—Answer, £2. 2. 6.
A ship whose value is £15,423 is insured at 19⅔ per cent; what does the insurance amount to?—Answer, £3033. 3. 9½ ²/₅.
247. In reckoning how much a bankrupt is able to pay his creditors, as also to how much a tax or rate amounts, it is usual to find how many shillings in the pound is paid. Thus, if a person who owes £100 can only pay £50, he is said to pay 10s. in the pound. The rule is easily derived from the same reasoning as in 246. For example, £50 out of £82 is
| £ | 50 | out of £1, or | 50 × 20 | shillings, |
| 82 | 82 |
or 12s. 2½ ¹⁵/₄₁ in the pound.
248. Interest is money paid for the use of other money, and is always a per-centage upon the sum lent. It may be paid either yearly, half-yearly, or quarterly; but when it is said that £100 is lent at 4 per cent, it must be understood to mean 4 per cent per annum; that is, that 4 pounds are paid every year for the use of £100.