SOLUTION: Timmie owns 40percent of the stock in Millennium Traders,Inc. Josef owns 15,000 shares. Bernice owns all the shares not owned by Timmie nor Josef. How many shares does Timmie own

Question 941369: Timmie owns 40percent of the stock in Millennium Traders,Inc. Josef owns 15,000 shares. Bernice owns all the shares not owned by Timmie nor Josef. How many shares does Timmie own if Bernice has 25percent more shares than Timmie?
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!
Timmie owns 40 percent of the stock in Millennium Traders,Inc.
Josef owns 15,000 shares.
Bernice owns all the shares not owned by Timmie nor Josef.
:
Let x = the total number of shares
then
.4x = Tim's share
and
let b = no. of shares owned by Bernice
:
x = .4x + 15000 + b
"How many shares does Timmie own if Bernice has 25percent more shares than Timmie?
b = 1.25(.4x)
b = .5x is Bernice's share
:
Replace b with .5x in the first equation
x = .4x + 15000 + .5x
x = .9x + 15000
x - .9x = 15000
.1x = 15000
x = 150,000 total shares
.4(150000) = 60,000 shares owned by Tim
:
;
See if that checks out
Tim: 60000
Joe: 15000
Ber: 75000 (1.25*60000)
-----------
total: 150,000

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