Practical Exercises in Commercial Arithmetic (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 Excerpt: ...Sum expended.+. (100% + Rate %) 1 Amount of PurNet Proceeds-4-(100%--Rate %) I chase or Sales. Rule.--Divide the sum expended by 100%--the Rate f0 of Commission or Brokerage, or divide the Net Proceeds by 100% minus the Rate % of Commission or Brokerage, and the quotient will be the amount of Purchase or Sales. 125. To find the net amount to be invested when the agent has the purchase money: From the sum given deduct all known expenses other than Commission, and divide the remainder by 100% + rate of Commission or Brokerage. 126. To find gross cost of a purchase: Add Commission and all other expenses to the Net Cost. 127. To find the net proceeds of a sale: Subtract Commission and all other expenses from the Gross Proceeds. 128. Sum expended-4-100% + Rate %= Net Cost. Net Proceeds-r-100%--Rate % = Gross Proceeds. Rule.--Divide the sum eocpended by 100% + Sate %, and the quotient will be the Net Cost. Divide the Net Proceeds by 100%--Rate %, and the quotient will be the Gross Proceeds. mn.. r, C Gross Proceeds. Commission or Brokerage = )-v-t r t ( X Rate %. Rule.--Multiply the Gross Proceeds (sum received by the agent for the goods) or Net Cost by the Bate f0, and the product will be the Commission or Brokerage. 130. Commission or Brokerage-f-Amount of purchase or sales = Rate %. Rule.--Divide the Commission or Brokerage by the Gross Proceeds or by the Net Cost, and the quotient will be the Pate %. 131. Commission or Brokerage Rate % = Gross Proceeds or Net Cost. Rule.--Divide the Commission or Brokerage by the Pate % and the quotient will be the Gross Proceeds or Net Cost. EXAMPLES. 132. 1. My agent sells goods for $1800, and charges me 3% commission. What amount should he remit to me? 2. An agent sells goods for $2648. His commission is 2%, and charges f...