EXAMPLE 3.-At 8744 per bushel, how many bushels of wheat can be bought for $1267? EXPLANATION.-Since the price is of itself less than $1 per bushel, the number of bushels will be greater than the number of dollars expended; of 1267 = 181; 1811267 = 1448, or 1448 bushels. REMARK.-Application of the principle of reciprocals can profitably be introduced at this point; the reasoning will be the same as in the examples given above. EXAMPLE 4.-At 6634 per yard, how many yards of cloth can be bought for $84? EXPLANATION.-66¢ = $; write its reciprocal, 3, and multiply by $84. EXAMPLE 5.-At 75¢ per yard, how many yards of cloth can be bought for $84? EXPLANATION.-75¢ = $; write its reciprocal,, and multiply by $84. EXAMPLE 6.-At 8714 per yard, how many yards of cloth can be bought for $84? EXPLANATION.-874 $; write its reciprocal, , and multiply by $84. = Rules.-1. Multiply the cost by the quantity that can be bought for $1. Or, 2. Add to the cost (as quantity) such a part of itself as the price lacks of being $1. EXAMPLES FOR PRACTICE. 309. 1. If 1 lb. of candy can be bought for 25¢, how many pounds can be bought for $5.75 ? 2. At 3334 per yard, how many yards of cloth will $1542.50 buy? 3. A boy expended $1 for almonds, at 1634 per lb. How many pounds did he buy? 4. At 754 per yard, how many yards of cloth can be bought for $572.40 ? 6. 5. If I invest $175.30 in eggs, at 20¢ per doz., how many dozens do I purchase? A farmer sold 263 bu. buckwheat, at 8744 per bu., and took his pay in sugar at 614 per lb. How many pounds should he have received? 7. A gardener exchanged 132 qt. of 1214 per doz., for cloth at 25¢ per yd. berries, at 834 per qt., and 75 doz. corn, at How many yards did he receive ? 8. If I exchange 1920 acres of wild land, at $7.50 per acre, for an improved farm at $125 per acre, what should be the number of acres in my farm? 9. A farmer gave 83 cwt. of pork, at $7.50 per cwt., 15 bu. of beans, at $3.25 per bu., and 461⁄2 bu. of oats, at 3334 per bu., for 28 yd. of dress silk, at $1.25 per yd., and 524 yd. of delaine, at 1634 per yd., receiving for the remainder, cotton goods at 1214 per yd. How many yards of cotton goods should be delivered to him? 10. When potatoes are worth 6634 per bu., and turnips 25¢ per bu., how many pounds of coffee, at 1634 per lb., will pay for 24 bu. of potatoes and 18 bu. of turnips? 11. Having bought 1487 lb. A. sugar, at 614 per lb.; 872 lb. C. sugar, at 5¢ per lb.; 6281⁄2 lb. Y. H. tea, at 3334 per lb.; 522 lb. J. tea, at 25¢ per lb.; 650 lb. Rio coffee, at 1244 per lb.; and 81 sacks of flour, at $1.25 per sack, I give in payment seven one-hundred dollar bills. How much should be returned to me? 310. To find the Cost of Articles Sold by the C. C stands for 100. M stands for 1000. EXAMPLE.-What is the cost of 416 lb. phosphate, at $2.00 per hundred? EXPLANATION.-416 lbs. = = 4.16 hundred lbs. If 1 hundred pounds cost $2.00, 4.16 hundred lb. will cost 4.16 times $2, or $8.32. Rule.-Reduce the quantity to hundreds and decimals of a hundred, by pointing off two places from the right, then multiply by the price per C 312. To Find the Cost of Articles Sold by the M. EXAMPLE.-At $7.00 per M, what will be the cost of 1544 bricks? 1.544 thousand bricks; and if one thousand bricks cost $7, 1.544 thousand bricks will cost 1.544 times $7, or $10.808 = $10.81. Rule.-Reduce the quantity to thousands and decimals of a thousand, by pointing off three places from the right, then multiply by the cost per M. EXAMPLES FOR PRACTICE. 313. 1. What will be the cost of 1650 ft. pine lumber, at $15 per M? 3. 2. What will be the cost of 611 ft. oak lumber, at $24 per M? What will be the cost of 21168 ft. hemlock lumber, at $7.50 per M? 4. 5. What will be the cost of 2120 ft. ash lumber, at $25 per M? What will be the cost of 2768 ft. maple lumber, at $14 per M? 7. What will be the cost of 1100 ft. chestnut lumber, at $18 per M? 8. Find the cost of 4560 ft. oak lumber, at $22 per M. 9. Find the cost of 11265 ft. spruce lumber, at $12.50 per M. 10. Find the cost of 6625 shingles, at $5.25 per M. 11. A dealer bought the season's cut of a saw mill, which was as follows: 326475 ft. clear pine, at $25 per M; 1467250 ft. seconds, at $17.50 per M; 102500 ft. culls, at $13 per M; 890000 ft. hemlock boards, at $10.50 per M; 824650 ft. hemlock timber, at $9 per M; 552720 ft. white oak plank, at $21 per M; 75690 ft. red oak plank, at $16 per M; 101145 ft. cherry, at $35 per M. What was the amount of the purchase? 12. For constructing a house and barn I bought: 46210 ft. matched pine, at $21 per M; 13516 ft. siding, at $28.50 per M; 11260 ft. chestnut, at $32 per M; 4680 ft. black walnut, at $45 per M; 928 ft. cherry, at $86 per M; 33725 ft. hemlock timber, at $11 per M; 58660 shingles, at $6.25 per M; 13700 brick, at 5.50 per M. What was the total cost ? 314. To find the Cost of Articles Sold by the Short Ton, or Ton of 2000 lb. EXAMPLE.-What will be the cost of 3108 lb. of coal, at $6 per ton? ton, or EXPLANATION.-3108 lb. 3.108 thousand lb.; since 1 ton, or 2000 lb., cost $6, 1000 lb., will cost of $6, or $3; and if 1000 lb. cost $3, 3.108 thousand lb. will cost 3.108 times $3, or $9.324, or $9.32. Rule.-Divide the price of one ton by 2, and the result will be the price per 1000 lb. From the right of the quantity point off 3 places, thus reducing it to thousands and decimals of a thousand. Multiply by the price per 1000 lb. 315. 2. 3. 4. 5. 6. 7. 8. EXAMPLES FOR PRACTICE. 1. At $3 per ton, what will be the cost of 2680 lb. soft coal? At $34.50 per ton, what will be the cost of 116780 lb. pig iron? 9. At $2.10 per ton, what will be the cost of 2640 lb. slack lime? 10. 11. At $35 per ton, what will be the cost of 1115 lb. guano? What will be the freight, at $5 per ton, on four cars of Mdse. of 21780, 23055, 41200, and 32460 lb. weight respectively? 12. At $16.50 per ton, what will be the express charges on five boxes weighing respectively 186, 610, 241, 519, and 356 lb? 13. My furnace consumed, in one year, six loads of hard coal, weighing respectively 4125, 3960, 4305, 4440, 4055, and 3775 lb. If the coal was bought at $4.60 per ton, what did it cost to run the furnace ? 14. A dealer stocked his yard with 17500 tons of coal, as follows: 850 tons cannel, at $7.40 per ton; 52600 lb. ɛoft, at $2.50 per ton; 193410 lb. of egg, at $3.20 per ton, and the remainder chestnut, at $3.60 per ton. What was the value of the dealer's stock? 316. To Find the Cost of Products of Varying Weights per Bushel. EXAMPLE 1.-Required, the cost of 104 lb. of clover seed, at $6.35 per bushel of 60 lb. EXPLANATION.—At $6.35 per lb., the cost would be 104 times $6.35, or $660.40; but since the price was not $6.35 per lb., but $6.35 per bu. of 60 lb., the cost will be of $660.40, or $11.006, or $11.01. EXAMPLE 2.-Required, the cost of 100 lb. of blue grass seed, at $1.25 bushel of 14 ìb. per EXPLANATION.-At $1.25 per lb. the cost would be $125; but since the price was not $1.25 per lb., but $1.25 per bu. of 14 lb., the cost would be of $125, or $8.93. Rule.-Multiply the number of pounds weight by the price per bushel, and divide the product by the number of pounds in 1 bushel. REMARK.-Parts of bushels are often written in smaller figures at the right and above as pounds. Thus 144 bu. clover seed 14 bu. = 1 bu. 44 lb. 104 lb. 2112 bu. oats = 211 bu. 21 bu. 12 lb. 682 lb. 11925 bu, corn = 119 bu. 119 bu. 25 lb. = 7689 lb. EXAMPLES FOR PRACTICE. 317. How much should be paid for a load of 1. Wheat, weighing 2142 lb., at $.80 per bushel of 60 lb. 6. Buckwheat, weighing 2172 lb., at $.CO per bushel of 48 lb. 8. Peas, weighing 2500 lb., at $1.40 per bushel of 60 lb. 9. Hungarian grass seed, weighing 3146 lb., at $2.50 per bushel of 45 lb. 10. Red top grass seed, weighing 2059 lb., at $.90 per bushel of 14 lb. 11. Timothy seed, weighing 2677 lb., at $2 per bushel of 44 lb. 12. Kentucky blue grass seed, weighing 2266 lb., at $1.50 per bushel of 14 lb. 13. Clover seed, weighing 2941 lb., at $5.10 per bushel of 45 lb. 14. Flax seed, weighing 2727 lb., at $2.25 per bushel of 56 lb. 15. Castor beans, weighing 3050 lb., at $3 per bushel of 46 lb. 16. Potatoes, weighing 2599 lb., at $.65 per bushel of 60 lb. 17. Turnips, weighing 2160 lb., at $.30 per bushel of 56 lb. 18. Apples, weighing 2701 lb., at $.25 per bushel of 56 lb. Sweet potatoes, weighing 3349 lb., at $1 per bushel of 55 lb. 20. Onions, weighing 2021 lb., at $.85 per bushel of 57 lb. 21. Rye, weighing 1367 lb., at $.64 per bushel of 56 lb. 19. 22. The products of a farm were ten loads each of wheat, barley, corn, oats, and potatoes. The wheat sold at $1.12 per bushel of 60 lb., the barley at 854 per bushel of 48 lb., corn at 70¢ per bushel of 58 lb., oats at 324 per bushel of 32 lb., and potatoes at 624 per bushel of 60 lb. The loads of wheat weighed respectively 2585, 2640, 2721, 2594, 3063, 3354, 3145, 2720, 2938, and 2890 lb.; the barley 2163, 2487, 2225, 3004, 3121, 2742, 2007, 2525, 3140, and 3082 lb.; the corn 3100, 3126, 3097, 3040, 2872, 2950, 2777, 2981, 2547, and 2939 lb.; the oats 1973, 2946, 2172, 3148, 2500, 1951, 2631, 2997, 3005, and 2775 lb.; the potatoes 2846, 2891, 2805, 2863, 2984, 2901, 3046, 3280, 3395, and 2584 lb. How much was received from the five products? REMARK.-Add each ten loads, and compute bushels but once for each product. BILLS, STATEMENTS, AND INVENTORIES. 319. A Bill is a written statement in detail of articles sold or services rendered. REMARK.-A Bill should state the names of both parties, the terms of credit, the name, quantity, and price of each item, and the entire amount. The Bill is said to be receipted when the words "Received Payment," or "Paid " and the creditor's signature, have been written at the bottom. 320. An Invoice is a written description of merchandise sold, or shipped to be sold on account of the shipper. REMARK 1.-The terms Invoice and Bill are now used interchangeably; formerly the term Invoice was applied only to written statements of merchandise shipped to be sold for the owner. 2. An Invoice should bear the date of the sale or shipment, the special distinguishing marks, if any, upon the goods, the names of seller and buyer, or consignor and consignee, the items, prices, footing, discounts, if any, terms of sale, and manner of shipment. 321. A Statement is based upon itemized bills previously rendered, and is a written exhibit of the sum of the items charged in each of the bills, including also the dates on which the several bills were rendered. 322. An Inventory is an itemized schedule of the property possessed by an individual, firm, or corporation, and not shown by the regular books of account; or it may include all of the property possessed by an individual, firm, or corporation, such as book accounts, notes, cash, merchandise., etc., and also the debts due by the individual, firm, or corporation. This, however, is generally called a statement of the business. REMARK.—An inventory is usually made upon the event of taking off a balance sheet, of a change in the business, of the admission of a partner, of the issue of stock, or, in case of embarrassment or insolvency, for examination by creditors, together with the other resources and liabilities of the business. |