Using the above bill as a model, rule some forms and make out bills, proving each one, for the following orders: Order #1. May 3, 19—. Sold to George L. Tipton, Guthrie, Okla., the following items: 5 Half Chests Tycoon Tea, 80 lb. each, at 58¢ per pound 3 Packages China Green Gunpowder Tea, 60 lb. each, at 75¢ per pound 2. Packages Imperial Green Tea, 60 lb. each, at 41¢ per pound 10 Boxes Formosa Oolong Black Tea, 20 lb. each, at 62¢ per pound 5 Boxes Formosa Oolong, Acorn Chop #3, 22 lb. each, at 541⁄2¢ per pound 3 Packages First Steamer #2004 Hoochow, 75 lb. each, at 33¢ per pound 5 Half Chests White Seal #3, 80 lb. each, at 52¢ per pound Terms: 7% off if paid in 10 days; 6% in 30 days. Order #2. May 3, 19—. Sold the following bill to R. L. Steen, Stillwater, Okla.: 1 case, 6 doz., 4-oz. Calumet Baking Powder at 97¢ per doz. 1 case, 2 doz., 1-lb. cans Calumet at $3.35 per doz. 1 case, 4 doz., 8-oz. K. C. Baking Powder at 95¢ per doz. 3 cases, 4 doz. ea., 16-oz. K. C. at $1.85 per doz. 1 case, 3 doz., 6-oz. Dr. Price's Baking Powder at $1.40 per doz. 1 case, 2 doz., 12-oz. Royal Baking Powder at $5.20 per doz. 1 box, 3 doz., American Ball Bluing at $3.45 per gross 1 box, 25 lb., Apricots, dried, at 34¢ per pound 1 case, 216, Candles at 19¢ per set of 6 5 cartons, Yucatan Chewing Gum at $3.15 per carton Terms: 2/10, 1/30. SUPPLEMENTARY WORK Order #3. Sold to C. J. Harvey, 2734 Jefferson Ave., St. Louis, Mo.: 2 cases, #10 pails, doz. in case, Extra Syrup at $2.65 per case 5 cases, #11, 2 doz. in case, Karo Corn Syrup at $1.83 per case 5 cases, #2, 2 doz. in case, Karo Corn Syrup at $2.60 per case 5 cases, -gal. cans, 1 doz. in case, Vermont Maple Syrup at $14.50 per case 1 box, 10 oz., Cream of Tartar at 45¢ per pound 3 cases, 2-oz. tins, 3 doz. in case, Mustard at 61¢ per doz. 1 case, 2-oz. cartons, 3 doz. in case, Black Pepper at 45¢ per doz. 1 carton, 1-oz., 2 doz., Lemon Extract at $2.20 per doz. 2 cartons, 2-oz., 2 doz. each, Vanilla Extract at $2.70 per doz. Terms: 2/10, 1/30. Order #4. Sold to O. M. Hixon, 2800 Paseo, Kansas City, Mc.: 2 cases, 1 doz. in case, #2 Fancy String Beans at $3.30 per doz. 1 case, 1 doz., #2 Extra Quality Red Kidney Beans at $1.20 per doż. 5 cases, 1 doz. each, #2 Fancy Sugar Corn at $1.95 per doz. 5 cases, 2 doz. in case, Sifted Fancy Peas at $3.50 per doz. 3 cases, 1 doz. in case, Fancy Tomatoes at $2.25 per doz. 1 case, #10, doz. in case. Extra Quality Apples at $3.70 per case 2 cases, 1 doz. each, Fancy Salmon at $4.55 per doz. 1 case, #2, 3 doz. in case, Libby's Chile Con Carne, at 95¢ per doz. 2 cases, tall, 4 doz. in case, Carnation Milk at $4.75 per case Terms: 3/10, 21/30. CHAPTER V PERCENTAGE LESSON 19 A very large part of all business figuring consists of taking a certain per cent of a number, as in figuring discounts, commissions, interest, etc. Also in business one is frequently required to find the relation existing between two numbers, expressed as per cent, as in finding the per cent of net sales needed for buying expense, selling expense, delivery expense, general expense, etc. Problems such as these are vital, and a knowledge of them is essential to a mastery of business conditions. Definitions. Percentage is a process of computing in which the relation between numbers is shown in hundredths. Per cent is a contraction of the Latin per centum meaning by the hundred. As used in business, per cent means hundredths; thus 5 per cent means .05, 85 per cent means .85, etc. The sign for per cent is % and is used thus, 5%, 85%, etc. The terms in percentage are the base, rate, and percentage. The base is the number of which some per cent is taken. The rate is the per cent which is taken. The percentage is the result of taking a certain per cent of the base. Thus, in the problem 5% of $75 = $3.75, $75 is the base, 5% is the rate, and $3.75 is the percentage. FUNDAMENTAL PRINCIPLES OF PERCENTAGE To establish the three fundamental principles of percentage, let us examine the solution of the following problem. PROBLEM. What is 15% of $475? SOLUTION $475 .15 EXPLANATION 15% means .15; hence, 15% of $475 is .15 of $475 or .15X$475 (or $475X.15) or $71.25. In the above solution the numbers are: $71.25 From the above we see that to multiply the multiplicand by the multiplier gives the product, or that to multiply the base by the rate gives the percentage. Expressed more briefly we have: Since $71.25.15-$475, that is, dividing the product by the multiplier gives the multiplicand, or dividing the percentage by the rate gives the base, we have: Product ÷ Multiplier = Multiplicand, or Base. = Also since $71.25÷$475.15, that is, dividing the product by the multiplicand gives the multiplier, or dividing the percentage by the base gives the rate, we have: Product ÷ Multiplicand = Multiplier, or Percentage Base Hence: = Rate. To find the percentage when the base and rate are given, multiply the base by the rate. To find the base when the percentage and rate are given, divide the percentage by the rate. To find the rate when the percentage and base are given, divide the percentage by the base. EXERCISE 1: FINDING THE PERCENTAGE As an employee of R. A. Barker, a merchant, compute his gross profit on each of the following bills and find the total. Mr. Barker computes his profit on the selling price. Use aliquots whenever possible. Prove by recomputing the results. Compare and correct errors. |