It means that you room paying a price of "X" for every dollar that is worth.
For example, if you space buying a refrigerator precious $100 for $60, you room paying at 60 cents on a dollar.
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This expression deserve to be supplied when something is marketed at a premium too. Like, someone have the right to sell girlfriend a stock at $1.50 ~ above a dollar.
The use of this expression can help people calculate profit or loss portion pretty fast. I guess that can be the beginning of the expression too.
To get at the origin component of her question, I"ve obtained no critical answer but was maybe to uncover it in print earlier to at the very least 1797. Here"s an instance from early new York State legislation authorizing the state to collection a tax on that is citizens:
Interestingly, this was not too long after the hatchet dollar to be officially embraced as a name for U.S. Currency (and only three years after castle were very first minted) follow to this little bit on the word from Etymonline:
allisonbrookephotography.com homesteaders in America used the native
I suspect that the beginning is in insolvency where debtors only obtained back part of their claims, measure in X cent on the dollar (rather than X percent), and also that this later became a an ext general expression for a discounted payment.
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