SOLUTION: Three partners Otieno, Ouma and Makotsi decide to start an export business together. If Otieno contributes sh 20 000 for 9 months, Ouma contributes sh 25 000 for 6 months and Makot

Algebra ->  Finance -> SOLUTION: Three partners Otieno, Ouma and Makotsi decide to start an export business together. If Otieno contributes sh 20 000 for 9 months, Ouma contributes sh 25 000 for 6 months and Makot      Log On


   

Question 1199447: Three partners Otieno, Ouma and Makotsi decide to start an export business together. If Otieno contributes sh 20 000 for 9 months, Ouma contributes sh 25 000 for 6 months and Makotsi contributes sh 35 000 for 4 months. Find their share in profits of sh 1 310 000
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
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Three partners Otieno, Ouma and Makotsi decide to start an export business together.
If Otieno contributes sh 20 000 for 9 months, Ouma contributes sh 25 000 for 6 months
and Makotsi contributes sh 35 000 for 4 months,
find their highlight%28cross%28share%29%29 shares in profits of sh 1 310 000.
~~~~~~~~~~~~~~~~~~~ 

Let "r" be the rate of making profit in this business.


    +------------------------------------------------------+
    |   DEFINITION: "r" is the profit per 1 sh per month.  |
    +------------------------------------------------------+


Then we have this equation

    (20000*9)*r + (25000*6)*r + (35000*4)*r = 1310000.


Simplify and find r

    (20000*9 + 25000*6 + 35000*4)*r = 1310000
   
    470000*r = 1310000

    r = 1310000%2F470000 = 131%2F47


Now the shares of the participants are:

    Otieno :  20000%2A9%2A%28131%2F47%29 = use your calculator.

    Ouma   :  25000%2A6%2A%28131%2F47%29 = use your calculator.

    Makotsi:  35000%2A4%2A%28131%2F47%29 = use your calculator.

You get all necessary instructions, along with all necessary explanations.

Complete calculations on your own and  MEMORIZE  on how to solve such problems.