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Elementary and Practical Algebra

Elementary and Practical Algebra


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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. 1855 Excerpt: ... 35. What amount of stock in a Savings Bank, at an advance of 5 per cent., could be purchased for $4200 1 and what amount in another, at a discount of 5 per cent., could be purchased for $1995? Ana. $4000, and $2100. Problems in Interest, Sfc. ' (173.) Interest is the price or premium paid for the use of money, and is reckoned at a certain percenturn, annually, on the sum for which it is paid. The Principal is the sum for which Interest is paid--the Amount is the sum of the Principal and Interest. From the principles of Percentage, (172), it is evident that, (174.) The Principal X the ratio of percentage produces the inteiest for one year. For the ratio of percentage, in this case, is the interest of $ 1 for one year. The Student may be required to write the Rules of Interest which are indicated by the Formulas among the following problems. 36. What Principal would amount to $1000 in 5 years, allowing the rate of interest to be 6 per cent? Let x represent the Principal required;, 6 6x., T. then x X qq" or joq" 18 Interest for one year; and by adding 5 years' interest to the Principal, 30a; we have x+-=$1000. Ans. $769jv 37. What is the Formula for finding the Principal which, at interest at r per cent., would amount to the sum a in t years? 100a AnS-TM+r-f 38. What Principal would amount to $2500, in 10 years, allowing the rate of interest to be 7 per cent.? Ans. $1470.588'. 39. At what Rate per cent, must $1000 be put on interest, to amount to $1150 in 2 years and 6 mouths? A/is. 6 per cent. 40. What is the Formula for finding the Rate per cent, of interest at which the sum s would amount to the sum a in t years? 100(a--s) Ans. 1. st 41. In how many years would $6000 amount to $7470, allowing the rate of interest be 7 per cent? Ans. 3 yearn...


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Product Details
  • ISBN-13: 9781232121671
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 58
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 1232121673
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 122 gr

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