SOLUTION: The profits for a partnership in the previous year were $160,000. There were two partners who shared the profits in the ratio of 5:4. Find the amount of profit each received.
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Question 168544: The profits for a partnership in the previous year were $160,000. There were two partners who shared the profits in the ratio of 5:4. Find the amount of profit each received.
Answer by Mathtut(3670) (Show Source): You can put this solution on YOUR website!
partner one would receive 160000 * 5/9=$88888.89
partner two would receive 160000 * 4/9= $71111.11
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