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by Unknown Author in the Public DomainOctober 31st, 2023

*How to become a Lightning Calculator by Anonymous is part of the HackerNoon Books Series. You can jump to any chapter in this book here. The Canadian Interest Rule.*

This rule of computing interest appears in some Canadian text-books, and, though simply a modification of other rules, is worthy of notice. To find the interest on $724 for 5 1/2 months at 6 per cent., all you have to do is to divide by 4 and multiply by 11. The rule is to divide the principal by 4, and to multiply the quotient by one-third of the product of the rate by the time in months. *Six*times 5 1/2 = 33, and one-third of 33 is 11. If the time be expressed in years, multiply one-fifth of the principal by one-half the product of the rate by the number of years, and remove the decimal point one place to the left.

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*This book is part of the public domain. Anonymous (2021). How to become a lightning calculator. Urbana, Illinois: Project Gutenberg. Retrieved https://www.gutenberg.org/cache/epub/65078/pg65078-images.html*

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