SOLUTION: Three people decide to share the cost of a yacht. By bringing in a fourth partner, they can reduce the cost for each person by $4000. What is the total cost of the yacht?

Question 257217: Three people decide to share the cost of a yacht. By bringing in a fourth partner, they can reduce the cost for each person by $4000. What is the total cost of the yacht?
Answer by drk(1908) (Show Source): You can put this solution on YOUR website!
The total cost = $48,000
If three people cost $48,000 then the average cost is $16,000
Adding a fourth person, gives us $12,000
The difference is $4,000
--
The key here was least common multiple of 3 and 4 = 12. SO I knew the total cost was a multiple of $12,000.
RELATED QUESTIONS
three people decide to share the cost of a yacht. by bringing in an additional partner,... (answered by stanbon)

Seven people decide to share the cost of a yacht. By bringing in an additional partner,... (answered by jim_thompson5910)

Five people decide to share a yacht. By bringing in an additional partner, they can lower (answered by ewatrrr)

A group of students decide to buy a Christmas gift for their math teacher. They agree to... (answered by Fombitz)

This problem is from a chapter dealing with Quadratic Equations and Inequalities The... (answered by scott8148)

The members of a traveling club plan to share equally the cost of $150,000 motor home. If (answered by stanbon)

Three people decided to rent a small boat, each paying one-third of the cost. The three... (answered by ankor@dixie-net.com)

A church is bringing a group of its members to a "clean comedians" show. If they bring 15 (answered by Alan3354)

A group of friends are renting a bus to attend a convention. The company charges a flat... (answered by josmiceli)