DISCOUNT. 189 



EXAMPLES. 



I. What is the insurance of 874!. 13s. 6d. at n^ P^^ 

 cent. ? 



874I. 13s. 6d. 

 12 



1*88 Ans. 1 1 81. is. 7^d. 



2. What is the insurance of 900I. at io-|- per cent. ? 



Ans. 96I. 15s. 



3. What is the insurance of 1200I. at 7-|- per cent. ? 



Ans. 91U I OS. 



DISCOUNT. 



Discount is an allowance made for the payment of any 

 sum of money before it becomes due j and is the differ- 

 ence between that sum due some time hence, and its pres- 



