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julie and kristen are the partners in a local sporting good shop . they needed $51,000 to start the buisness. they invested in the ratio 5:12 respectively. what percent of the business was owned by Kristen ? if the business grows to $3,000,000 what percent of it will julie own ?
5:12 is the same as 5x:12x where Kristen's share is 12x
Julie's percentage = 5x/17x = 5/17 = 29.4%
Kristen's percentage = 12x/17x = 12/17 = 70.6%