THE PUZZLE ABOUT THE “PROFITS.” Perhaps there is no form of commercial calculation so confusing and so little understood as that of mercantile profits. It might surprise many to state, nevertheless it is perfectly true, that it is impossible to buy goods and sell them to show a profit as great as 100 per cent. The correct method to calculate profit is to reckon on the _return_--the price received for the goods sold--_not on the cost price_, and as it is impossible to sell goods at 100 per cent. discount, so also goods cannot be sold to show that percentage of profit, unless they actually cost nothing. Some time ago, in New Zealand, a well-known boot manufacturer had a “GREAT DISCOUNT SALE.“ He had large posters displayed on the windows of his shops, and advertisements in the newspapers, announcing the fact that 5s. in the £ would be allowed as discount to all customers. The profit he usually obtained in the ordinary way of trade was 25 per cent., and having had a good season, he was prepared to sell off the balance of his stock at cost price. The selling price of his goods was marked in plain figures. A pair of boots which cost him 8s. was marked 10s., thus showing a profit of 2s., which he considered to be 25 per cent. (2s. being a quarter of 8s.) Instructions were issued to all his employees engaged in selling to deduct a quarter from the marked price, the result being that a pair of boots which cost 8s., and marked 10s., was being sold at 7s. 6d. (2s. 6d., the quarter of the marked price being deducted from 10s.) Although he imagined he was getting 25 per cent. profit, he was in reality receiving only 20 per cent. It was not long before the posters were altered, announcing that 4s. in the £ would be allowed to his customers. The following question was asked some little time ago;--If a chemist sold a bottle of medicine for 2s. 6d., which cost him 2½d., what percentage would be his profit? Many work out the problem and answer 1100 per cent., but this answer is incorrect. He received 2s. 6d. for that which cost him 2½d., accordingly there was a profit of 2s. 3½d. We must now find out what percentage is the latter amount of the selling price, 2s. 6d., and we discover that it is 91⅔ per cent. 266. A pork butcher buys at auction £100 worth of bacon at 4d. per lb. and sells it at 8d. per lb.; also £100 worth at 8d. per lb., which he sells for 4d. per lb. Does he lose or gain? And if so how much. “THE JUMPING FROG.” 267. A frog, sitting on one end of a log eight feet long, starts to jump into a pond at the opposite end. With his first jump he clears half the distance, the second jump half the remaining distance, and so on. How many jumps does he take before entering the pond? OBLONG PUZZLE. 268. Cut out of a piece of cardboard fourteen pieces of the same shape as those shown in the diagram--the same number of pieces as is there represented--and then form an oblong with them. [Illustration]