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. 1912 edition. Excerpt: ...principal. 305. Rate. The per cent of interest is called the rate. That is, if the interest is 6% of the principal, the rate is 6%. WRITTEN EXERCISE 1. What is the interest on $375 for 1 yr. at 6%? at 4%? 2. What is the interest on $950 for 1 yr. at 5%? at 3%? 3. What is the interest on $235 for 1 yr. at 4%? at 5%? 4. If you had $27 in a bank that paid 3% a year, how much interest would you receive for a year? 5. How much are the interest and principal together of $475 at the end of 1 yr., the rate of interest being 6%? ORAL EXERCISE Find the interest for 1 yr. on the sums given in Exs. 1-12, at the rates specified: 1. $100at4%. 2. $300at6%. 3. $60at3%. 4. $500at 5%. 6. $900at3%. 6. $50at4%. 7. $400at6%. 8. $1200at3%. 9. $70 at5%. 10. $1000at4%. 11. $3000 at4%. 12. $90at6%. Find the interest on the following for 6 mo., first finding the interest for 1 yr., and then dividing by 2: « 13. $100at6%. 14. $200at5%. 15. $40at6%. 16. $400at3%. 17. $250at4%. 18. $50at4%. 19. $600at 5%. 20. $500at5%. 21. $70at3%. 22. $800at4%. 23. $1000at3%. 24. $80at5% 306. Finding interest. We have found the interest on money, at various rates, for one year, and also for half of a year. We shall now find it for other lengths of time. What is the interest on $250 for 10 mo. at 6%? The interest for 1 yr. is 6% of §250, and for 10 mo. it is §, or J, of this sum. of 6% of $250 = 5% of $250 = $12.50. ORAL EXERCISE 1. If the interest for 1 yr. is $16, how much is it for £ yr.? for yr.? for yr.? 2. If the interest for lyr. is $24, how much is it for 1 mo.? for 3 mo.? for 11 mo.? 3. If the interest for 1 yr. is $8, how much is it for 3 yr.? for 5 yr.? for 7 yr.? for 8 yr.? 4. At 6%, how much is the interest on $500 for 1 yr.? for 4 mo.? for 2 yr.? for 6 mo.?...