SOLUTION: Joshua and Katie have a partnership agreement specifying that Joshua receives 40 percent of their company's profits and Katie receives the remainder. This year, Joshua's share of t

Question 1123517: Joshua and Katie have a partnership agreement specifying that Joshua receives 40 percent of their company's profits and Katie receives the remainder. This year, Joshua's share of the company profit was $72,000. How much was Katie's share?
Found 2 solutions by Theo, MathTherapy:
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
x = the company's profits.
.4 * x = joshua's share.
joshua's share of the company's profits this year is 72000.

.4* x = 72,000
x = 72000 / .4 = 180,000

kati's share is 60%.

.6 * 180,000 = 108,000

another way to look at it.

joshua's share is 40%
kate's share is 60%.
kate's share is 60/40 = 1.5 * joshua's share.

1.5 * 72,000 = 108,000.

either way will get you the same answer.

Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!

Joshua and Katie have a partnership agreement specifying that Joshua receives 40 percent of their company's profits and Katie receives the remainder. This year, Joshua's share of the company profit was $72,000. How much was Katie's share?

Joshua's share was 40% or .4, and thatw's represented by $72,000
You're looking for Katie's share, which is 60% or .6
We then set up the following PROPORTION: , with K being Katie's share.
Solve for K to ger her share!
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