A Modern Arithmetic With Graphic Practical Exercises
A Modern Arithmetic With Graphic Practical Exercises
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47 8 A MODERN ARITHMETIC 66. EQUATION OF PAYMENTS.
When various lots of goods are bought on the same date, but with varying terms of credit, it is frequently convenient to know the date on which one payment of the total nominal amount may be made, i. E. With no charge for extra credit and no deduction for discount.
The question is equivalent to that of finding the average number of days of credit appertaining to each, and this number is know...n as the Equated term.
EXAMPLE i. Find the equated term in the following : Goods to the value of 800, term of credit 62 days.
5oo, 6 1 The average number of days' credit each receives _ 800 x 62 + 600 x 31 + 600 x 31 + 500 x 6 1 800 + 600 + 600 + 500 _ 49600 + 1 8600 + 1 8600 + 30500 2500 _ 117300 2500 = 46-92 days.
The equated term is therefore taken as 47 days, and the equated time as 47 days after the date of the transaction.
More frequently the goods would be bought on different dates, as in the following example : EXAMPLE 2.
What to read after A Modern Arithmetic With Graphic Practical Exercises?
You can find similar books in the "Read Also" column, or choose other free books by Harold Sydney Jones to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Do this, and find the area again by an easier method.
47 8 A MODERN ARITHMETIC 66. EQUATION OF PAYMENTS.
When various lots of goods are bought on the same date, but with varying terms of credit, it is frequently convenient to know the date on which one payment of the total nominal amount may be made, i. E. With no charge for extra credit and no deduction for discount.
The question is equivalent to that of finding the average number of days of credit appertaining to each, and this number is know...n as the Equated term.
EXAMPLE i. Find the equated term in the following : Goods to the value of 800, term of credit 62 days.
5oo, 6 1 The average number of days' credit each receives _ 800 x 62 + 600 x 31 + 600 x 31 + 500 x 6 1 800 + 600 + 600 + 500 _ 49600 + 1 8600 + 1 8600 + 30500 2500 _ 117300 2500 = 46-92 days.
The equated term is therefore taken as 47 days, and the equated time as 47 days after the date of the transaction.
More frequently the goods would be bought on different dates, as in the following example : EXAMPLE 2.
What to read after A Modern Arithmetic With Graphic Practical Exercises?
You can find similar books in the "Read Also" column, or choose other free books by Harold Sydney Jones to read onlineMoreLess
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