Howard's Anglo-American Art of Reckoning: the Standard Teacher And Referee ...
Howard's Anglo-American Art of Reckoning: the Standard Teacher And Referee ...
C Frusher Howard
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TO RECKON INTEREST BY CANCELLATION. 1st. — On the right of an upright line write the Prin- cipal, the time, — in days— and the Rate per cent. 2nd.-0n the left the number of days, or its factors, in the year, and remove the decimal point two places to the left. Find the interest on $428.50 at 5% per annum of 360 days, from March 3rd to July 27th. Ans. $8.57 HOB. Days. 7 27 W ^1428.51 3 3 ^ ;^^2y=$8.57 2|=$ 4 24=144 days ? 7^1 Find the interest on $99 at 4% for 72 days. 99X72X4 36X10X100 =-792 An...s. Find the interest on £428„10 Stg. at 5% per annum of 365 days from March 3rd to July 27th. Ans. £8„11„5. Mos. Days. 7 27 ;W I 428.5) 3 3 n \%i?2\ =«8.57=£8h11„5. 4 24+2 days=il46 days. ? I ? J See note on pages 46 and 69. Digitized by LjOOQ IC INTEREST. 49 When the given rate is not a convenient part ot* fiv& or six per cent., find the interest for the given time at one per cent., and multiply by the given rate. TO BECKON INTEREST AT ONE PER CENT. PER ANNUM. COMMON METHOD. EuLE.
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