Elementary arithmetic, with brief notices of its history... by Robert Potts.

24
17. As the interest was not paid regularly, interest was also due on the interest
iir paid for the whole of the period.
19. ~500.
VIIT.
1. The meaning is that ~100 stock in the 3 per cent. consols is Worth ~887
sterling.
~10,000 stock=~9000 sterling; let ~100 stock=x sterling, thus = —l-o aind
s-=~90 sterling, the price of ~100 stock.
2. Here ~100 stock =~957 sterling; let ~250 stock =X sterling, then i'(T(}
=-5 andc x=SX951-=~238 8s. 9d. sterling. Conversely, ~100 stock=95- sterling;
let x stock-~238 8s. 9d. sterling, and by a proportion the stock may be found.
Both in the purchase and sale of stock, the purchaser and seller always pay the
commission I per cent. to the broker. In the purchase of stock, the I is an increase
to the price of ~100 stock; in the sale, it is a deduction from the sum received for
~~100 stock.
3. Here ~96 sterling give ~3 interest; let x sterling give ~4 interest,
then -= 4, and x= — =~125 6s. 8d.
96 3
4. If ~100 sterling give x interest when invested in the 3 per cents at 96; then,z 100 100x3.-=1~~ and x= -=3-~3 2s. 6d. interest.
3 96 96
If ~100 sterling give y interest when invested in the 31 per cents at 103, then.x 100 100x2
-=-,- aand X= -- -=~3 7s. 11hd. interest. The 3~ per cents give the greater
3'1 103' 103x7.interest.
5. He gains ~150 by interest of his stock, and ~150 by the transfer, so that lie
gains ~300 on ~4,600 sterling, which gives 6 2- per cent.
6. The question is answered by finding which of the two stockls gives the greater
interest for any fixed sum, as ~100.
7. ~971 45' stock. 8. Consols give ~3 2s. 6d. and insurance shares ~3 6s. 141.
p)er cent. interest.
9. Find the interest in each case, and reduce their ratio to the lowest terms.
10. ~3920-,7 stock. 11. ~60. 12. ~89|-. 13. ~90.
14. ~761. 15. ~31 17s. 6d. 16. By his investment he loses ~49 5s. 9d. The
portion of the half-yearly dividend is the interest of the stock from AMay 22. to July,6, at 3 per cent. per annum. 17. ~400 stock. 18. ~8 14s. 6d.
IX.
1. 106 — per cent. of railway stock. 2. The new stock ~718 6s. 8-md., and the
hlifference of the yearly interest of the old and new stock is 1s. nearly. 3. Income
from stock in the 3 per cents is ~381 8s. 67d.: from stock in the 4 per cents,
~466 13s. 4d. The difference of these, less lOd. in the pound for income tax, is
~82 13s. 8-yd. 4. ~800 stock. 5. The 3g- per cents is the better investment by
5s. 0-d. interest yearly. 6. At 84~2 per cent. 7. ~1200 stock in the 3 per cent.
consols is equivalent to ~450 bank stock at 2291 per cent. 8. His income would bo
diminished by the transfer. 9. Railway stock gives ~3 5s. yearly dividend on share
of ~100; 3 per cent. consols give ~3 2s. 67d. on ~100 sterling. 10. Annual income
increased by ~17 2s. 4,1d.
X.
1. The present worth of ~400 due 2 years lihenc=~3G3-.,,,, ~2100,, 8,, = 1500
Whole present worth of ~2500 = ~1 863-.