Practical Exercises in Commercial Arithmetic

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...sells goods and has the net proceeds in his possession, he is sometimes ordered to invest the money he holds in goods to be consigned to the principal. In this case, if he is to pay expenses, he first deducts the estimated expenses, and then divides the remainder by 100/0-his rate of commission. The quotient is the net cost. His commission is the difference between the quotient and the dividend. In other cases (when the agent holds none of the principal's money) it is customary for the agent to purchase and charge the principal with the commission. while the person who sold the goods renders his bill and draws on the principal for the amount. 119. Guaranty is a percentage paid the agent in addition to his commission for becoming responsible for the payment for goods sold. 120. Commission and Brokerage is an application of the principles of Percentage. The Gross Proceeds, or Net Cost, is the Base; the Commission is the Percentage. Note.--Sometimes the commission is not found at a per cent. of the value. but at so much per unit of quantity, as, grain per bushel, cotton per bale, etc. 121. Given the Purchase or Sales and the Eate % to find the Commission or Brokerage. Formula.--Purchase or Sales X Rate % = Commission or Brokerage. Rule.--Multiply the amount of the Purchase or Sales by the Rate %, and the product will be the Commission or Brokerage. 122. Given the Purchase or Sale, and Commission or Brokerage to find the Rate %. Formula.--Commission or Brokerage-+-Amount of Purchase or Sales--Rate %. Rule.--Divide the Commission or Brokerage by the amount of Purchase or Sales, and the quotient will be the Bate %. 123. Given Commission or Brokerage and the Rate % to find the Purchase or Sales. Formula.--Commission or Brokerage-+-Rate % =...show more

Product details

• Paperback | 42 pages
• 189 x 246 x 2mm | 95g
• United States
• English
• black & white illustrations
• 1236978471
• 9781236978479