LESSONS IN EOT 



47 



offer to " <li-i'(i!mt" it at BO much ; This means 



that ho will five mo .-190 for it that it*, .500 less thu interett 



lor tin- it 8 por cent. Now it' tin- i.unl.i-r r.-m l>,.rn.w 



i to than 8 per cent. (KU :.t.) ho can at 



onco 1> ' at 5 por cent. Thin would amount in thn-n 



only to i 1. Ho would thus bo a gin 



I, by the transaction. 



It is on tlii.t principle of discounting a bill at a higher rate of 

 that at which money can bo borrowed, that bankora 

 uii.l liill-tlis.'omitiTS make their profits. 



17. In calculating the day upon which a bill becomes duo, 

 n number of days, which varies in different countries, 

 .-alli-il i>,i* qf (,, ' v, aro added to the time specified. In Great 

 l!rit:iin. iliivr days is the time allowed. Calendar months are 

 nM'kou.Ml. Thus a bill drawn on Feb. 15th at three 

 mont hs becomes actually due on May 18th. If a bill be drawn 

 on the 29th, 30th, or 31st of a month, and the month in which 

 it becomes due (not reckoning the days of grace) does not con- 

 tain 'J'.), 30, or 31 days, as the case may be, then the last day 

 of the month is taken, and the three days of grace added. 



Thus a bill drawn on Jan. 31st at three mouths would (with- 

 out the days of grace) be due on April 30th, and therefore would 

 be actually duo on May 3rd. 



EXERCISE 57. EXAMPLES IN DISCOUNT, ETC. 

 Calculate the True Discount upon 



1. 45, due 1 year hence, at 5 per cent. 



2. 325 10g., due 18 mouths hence, nt 3* per cent. 



3. 1000 for 10 months, at 4 per cent. 



4. What is the present worth of 450, payable in 6 months, at 6 per 

 cent.? 



5. What is the present worth of 840 ICs. 8Jd., due 3 months hence, 

 at 3J per cent ? 



6. Find the present worth of 819 4s., due 9 months hence, at 

 Si per cent. 



7. Find the difference between the True and the Commercial discount 

 upon 3500, due 10 months hence, at 6 per cent. 



8. Find the discount upon 430, due 18 mouths hence, at 3J per cent. 



9. Compare the cash and credit price of the same article ; credit 

 being given for one year, and simple interest at 4J per cent, per annum 

 being allowed. Find the cnsh price of articles, the credit price of 

 which amounts to 114 Is. 7d. 



10. The difference between the interest and the true discount for a 

 certain sum for 2J years at 4j per ceut. is 2 14s. B^.d. ; find the sum. 



[Sc N.B., Art. 12, in the preceding page.] 



11. If the discount on 567 be 34 14s. 3Jd. at 4} per cent., when is 

 the sum due ? 



12. Two men owe equal debts to a third, both due at the end of 

 4* years ; the one pays at once the equitable sum ; the other leaves the 

 amount of the debt in the bank for the benefit of the creditor, who 

 thus receives sums iu the ratio of 640,000 : 844,561. At what rate is 

 the interest calculated ? 



In the following questions the Mercantile Discount is to be 

 calculated. 



Find the present worth of the following Bills : 



13. 235 8s. Ccl., drawn 5th April, at 6 months; discounted 31st 

 May, at 6 per cent. 



11. 240, drawn 16th December, at 3 months; discounted 28th 

 January, at 3-J per cent. 



15. 1000, drawn 31st December, at 4 months ; discounted 2nd 

 February, at 5 per cent. 



16. 1250 10s. 6d., drawn 29th November, at 3 months ; discounted 

 21st December, at 6 per cent. 



17. 850 17s. 6d., drawn 31st July, at 8 months ; discounted 15tn 

 September, at 4 per cent. 



18. 325, drawn 25th October, at 9 months; discounted 15th 

 January, at 8J per cent. 



19. 755 5s. 9d., drawn 17th March, at 3 months ; discounted 31st 

 May, at 6 per cent. 



20. 537 5s. 2d., drawn 29th August, at 3 months; discounted 27th 

 October, at 3* per cent. 



1. 26 2s. 8ld. 



2. 33 Os. 9|d. 



3. 43 19s. 7id. 



1. 55 3s. 4d. 



2. 51 2s. 



8. 5 12s. 45d. to the 

 nearest farthing. 



EXERCISE 55. 



4. 2 Os. 51,1. 



5. 19 17s. IJd. 



EXERCISE 56. 



4. 1 15s. 6JJ'd. 



5. 20 10s. 9,VtA. 



6. 129 17s. 2>Ad. 



6. -21 2s. 2)d. 



7. 111 7s. 5d. 



7. 51. 



8. 195 6s. 3d. 



9. I lose 1 4s. 3f.d. 



IN BOTANY. XXV i 1. 



SECTION LX.-JA8MINACEJE. 



Characteriitict : Calyx free; corolla hypogynoaB, 

 monopetalous, Mirer-shaped, fire to eight partite ; stamens two, 

 inserted upon the tube of the corolla ; orary two celled, oni- or 

 bi-ovnlate; ovules collateral, ascendant; fruit a berry or cap- 

 sule ; seeds erect, dicotyledonous, exalbuminons. 



The members of the family Ja*minacc are usually tree* 

 or shrubs, often climbing, leaves ordinarily opposite, without 

 stipules; flowers complete ; calyx persistent; corolla imbricated 

 in aestivation ; anthers attached by their bases ; albumen at 

 first abundant, but towards maturity reduced to a very fine 

 membrane ; radicle inferior. 



The Jasminacciu aro nearly allied to the Oleaoeae, from which 

 they, however, differ in certain well-marked characteristics, 

 such as the number of their sepals and petals, the aestivation 

 of their corolla, the ascendant ovules, the endocarp never hard, 

 the erect seeds, and albumen almost absorbed. 



The principal region of this natural family is tropical Asia ; 

 a few species, however, aro indigenous to the Mediterranean 

 region. The greater number of the Jasminaceae possess a 

 volatile oil in tho tissue of their corolla, not obtainable by 

 distillation. Tho so-called oil of jasmine is the product of 

 stratifying jasmine flowers with some fixed non-odorous oil, 

 generally oil of ben. This oil, which is used by watchmakers 

 because it does not freeze so readily as other oils, is expressed 

 from the ben nut, tho seed of the Moringa pterygosperma, 

 or winged-seeded horse-radish tree, a tree which grows in 

 Arabia and India, and the roots of which are used as we 

 use horse-radish. Tho volatile oil of jasmine, to which allu- 

 sion has just been made, is obtained chiefly from the flowers 

 of the Jasminum, qfficinale, or common white jasmine, or 

 those of the Jasminum grandiflorum, or large-flowered jas- 

 mine. The last-named is a greenhouse evergreen climber, 

 and not suitable for culture in the open air, like the common 

 hardy deciduous climbers. 



SECTION LXI. VACCINIACE.2E AND EBICACEJE. 



Characteristics : Calyx free or adherent to the ovary ; corolla 

 inserted upon an annulus or disc, either hypogynons or epigy- 

 nous, monopetalous or polypetalous, with four or five petals, 

 regular ; number of stamens equal to that of the lobes of the 

 corolla, alternating with them, or double their number; 

 anthers bilocular, usually opening by terminal pores ; ovary 

 one to five celled, with central placentae ; seeds inverse ; 

 embryo dicotyledonous, straight, in the axis of a fleshy 

 albumen. 



The plants which compose these two families are united into 

 one, under the name Ericaceae, by some authors. They are 

 shrubs or evergreen trees ; the leaves, ordinarily narrow, are 

 articulated with the stem, and without stipules ; flowers com* 

 plete ; calyx, four or five partite ; corolla, four or five partite ; 

 the lobes varying as to depth, sometimes free, imbricated in 

 aestivation ; ovules pendent or reflexed. 



Ericaceae. Corolla hypogynons generally persistent ; ovary 

 free ; fruit generally capsnlar. 



Vacciniacece. Corolla epigynous, caducous ; ovary inferior : 

 fruit bacciform or drupaceous ; leaves plane. 



The Ericacacae or heaths are dispersed over all the globe : 

 they are especially abundant in the cold regions of the 

 northern hemisphere, and at the Cape of Good Hope. Somt 

 species are gregarious, covering immense tracts in western and 

 central Europe, where their presence indicates the soil to 

 be unodapted to the culture of cereals. A great number of 

 species belong to the Mediterranean region. The Vucciniaceae, 

 which takes its name from the Yaccinium, or whortleberry, 

 grow for the most part on this side of the Tropic of Cancer, 

 and in North America, chiefly inhabiting the temperate and 

 cool regions of the northern hemisphere, especially the ele- 

 vated mountains and hilly districts of America. Beyond the 

 Tropic of Capricorn they altogether disappear. Most of the 

 Ericaceae contain bitter astringent principles, sometimes also a 

 poisonous balsam. The berries of certain species are edible. 

 The Vacciniaceae are especially valuable for yielding a refresh- 

 ing acidulated frnit. Their leaves are slightly astringent. The 

 Thibaudia macrophylla produces berries which the inhabitants 

 of Paste, in Columbia, submit to fermentation, and produce 



