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LOSS AND GAIN.

Loss and Gain is a rule, which teaches how to find what is lost or gained in buying and selling a lot of goods, by comparing the prices, they are bought and sold at, together.

NOTE 1. If the gain or loss per cent is required, say, as the whole sum paid or bought for, is to the difference between that and the whole sold for, so is 100 to the guin or loss per cent.

NOTE 2. To fix a price on goods, in order to gain or lose a certain rate per cent, say, as 100 is to the price the goods cost, so is 100 with the gain per cent added, or loss per cent subtracted, to the price for which they must be sold, to gain or lose the proposed rate per cent.

NOTE 3. When the intended sum to be gained, or lost, is given, in order to know how to sell, so as to gain or lose that sum, say, as the first cost is to the first cost with the proposed gain added, or the proposed loss subtracted, so is the first cost of 1 yard, pound, c. to the price 1 yard, or 1 pound, &c. must be sold at.

EXAMPLES.

1. A man bought a barrel of cider for 28s. which he sold for 3d. a quart, it contained 32 gallons; did he gain or lose, and how much?

32 gal.

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2. If a man sell a barrel of cider containing 32 gallons, for 3d. a quart, and gain 4s. how much did it cost him?

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3. Bought 1525 gallons of rum, which proving of a bad quality, I sold the whole together for 1500 dols. ; the first cost was $1,12 per gallon; did I lose or gain, and how much? Ans. lost dols. 215,62. 4. A man bought 100 yards of cloth for 300 dols. I demand how he must sell it per yard, to gain 25 per cent ? Ans. dols. 3,75. 5. Bought 900 gallons of brandy for 925 dols. which I sold at 1 dol. per gallon, what did I gain or lose? Ans. lost 25 dols.

6. Bought 100 yards of cloth at 2 dols. per yard, how must I sell it per yard to gain 50 dols? Ans. $2,50. 7. Bought 100 yards of cloth for 300 dols. and sold it at 25 per cent. loss; how did I sell it per yard?

Ans. dols. 2,25.

8. Shipped for the West Indies 150000 feet of boards, at 7 dols. per thousand; 40 thousand pipe staves at 16 dols. per thousand; 60 thousand barrel staves at 8 dols. per thousand; 2000 quintals of cod-fish at 3 dols. per quintal, paid charges of shipping, $60,75, freight $500,27; for which I received in return 40 hogsheads of rum, containing 116 gallons each, (when shipped,) but gauged only 12 gallons each, on an average, when it arrived; 40 hogsheads of molasses, 122 gallons each, when shipped; but gauged on an average 118 gallons when it was landed; 40 hogsheads of sugar weighing 11 cwt. 2 qrs. 16 lb. each; charges of shipping at West Indies 16,30, freight 400 dols. cooperage $20,624, gauger's bill $6,40; I sold the rum at dol. 1,124 per gallon, the

molasses at 30 cents per gallon, the sugar (which fell short in the whole weight 3C. 1qr. 24lb.) at 10 dols. per cwt; how much was the gain or loss on this adventure; also how much difference would there have been, had the measure and weight been the same at selling, as was bought; and how much was lost per cent, by the deficiency of measure and weight?

Ans.

Real gain,

Had weight and measure been as
shipped it would have the gain more by
Which would have made the whole

gain,

The loss per cent was by short

weight, &c. rejecting remainders,

$1910,15,5

172

2082,15,5

1,87+

9. Sent to India 50000 dols. in specie; my correspondent sent it to Kamtchatka, and purchased furs, which when sold in Canton, the net proceeds, after deducting all charges, was 100000 dols. which he sent in teas; by the ship's leaking, the teas were damaged, so that after paying $500 expenses in landing, drying, &c. the whole was sold for dols. 42436,25; how much was gained or lost by the adventure? Ans. lost $8063,75.

10. Sent lumber to the West Indies; in a storm part was thrown overboard, by which ten per cent was lost; for the remainder I had shipped there, 18000 gallons of rum, at 50 cents per gallon; which by leakage, lost ten per cent; the duties paid on what arrived, was 25 cents per gallon; the truckage cost 25 dols. gauger's bill $14,50; I demand how I must sell this rum per gallon, so as to gain 25 per cent. on the whole value of the lumber sent, and the money paid.

Ans. $1,12,27975

16200

SIMPLE FELLOWSHIP.

Simple or Single Fellowship is that by which each partner's share of profit or loss is found, when their several shares of stock have been continued in trade, an equal term of time.

To find each partner's share of the gain or loss, say, as the sum of all the shares of the stock is to the whole gain or loss, so is each partner's share of the stock, to his share of the gain or loss.

To prove the work, add all the shares of the gain or loss together, the sum will be equal to the whole gain or loss; or thus, as the whole gain or loss is to the whole sum of all the shares of the stock, so is each partner's share of the gain or loss, to his share of the stock.

NOTE. This rule is applicable to many purposes, as proportioning estates of insolvent debtors among their creditors; legacies among heirs, when the estate falls short of the bequest, &c.

EXAMPLES.

1. A and B purchased a lot of goods together, for which A paid 250 dols. B 500 dols. ; after selling them, they found they had gained 375 dols.; what was each man's share of the gain?

A paid 250

B

750 375,:: 500

500

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500

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250

150

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2. A, B, and C trade in company; A put into the stock 1500 dols. B put in 2000 dols. and C 1800; at the end of the year, they dissolved partnership, and had gained 1000 dols. what was each man's share of the gain, and how much must he receive of the company?

2000

1800

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