EXAMP. 1. London remits to Dublin 586 l. 10 s. Sterling: How much Irish money will that amount to, exchange at 9½ per cent.?
| L. | |
| If 100 : 109½ :: | 586.5 |
| 8 | 877 |
| 800 : 877 | 41055 |
| 41055 | |
| 46920 | |
| 800) 514360.5 | |
| 542.950625 | |
| Ans. 642 l. 19 s. Irish. |
By practice.
| 586.5 | |
| p. cent. | |
| 10 = 1/10 | 58.65 |
| 2 = 1/5 | 11.73 sub. |
| 8 = | 46.92 |
| 1 = 1/8 | 5.865 |
| 4 = 1/4 | 2.9325 |
| 2 = 1/2 | 733125 |
| 9½ | 56.450625 add |
| 642.950625 |
2. How much Sterling will 625 l. Irish amount to, exchange at 10½ per cent.?
| If 110½ : 100 :: | 625 |
| 8 | 800 |
| 883 800 883) 500000 | 566 5 0¼ |
| Ster. Ans. |
The several towns in Britain exchange with London for a small premium in favour of London; such as, 1, 1¼, &c. per cent. The premium is more or less according to the demand for bills.