Precise measurement of flowrate is considered as an important measuring factor in mechanical and chemical experiment. Although there are many methods to measure flowrate, Float type flowmeter is widely used because of its easy attachment to piping and high measuring precision. To design the precise float type flowmeter, much design information such as tapered-tube dimensions, float size, float shape and float material is required. In this paper, fundamental design theory for float type flowmeter according to the given flowrate range is suggested and compensation coefficients of volumetric and weight flowrate for water, R-113 and air are calculated.