Question 284285: Hi! I need to ask help for this problem. The answer that I got was $1,200, and I've a nagging feeling that that may be wrong. The problem is:
Mr. A owned 60% of a mill and Mr. B the remainder. Mr. A sold part of what he owned to Mr. B for $1,200, and then Mr. B owned as much as Mr. A. At this rate, how much is the total value of the mill?
Found 5 solutions by mananth, ikleyn, n2, greenestamps, josgarithmetic:
Answer by mananth(16949)   (Show Source):
You can put this solution on YOUR website! Mr. A owned 60% of a mill and Mr. B the remainder. Mr. A sold part of what he owned to Mr. B for $1,200, and then Mr. B owned as much as Mr. A. At this rate, how much is the total value of the mill?
let the value of the mill be $x
A owned 3/5 * x = 3x/5
B owned 2/5*x= 2x/5
3x/5-1200 = 2x/5
x/5=1200
x=6000
Answer by ikleyn(53937)  (Show Source):
You can put this solution on YOUR website! .
Hi! I need to ask help for this problem. The answer that I got was $1,200,
and I've a nagging feeling that that may be wrong. The problem is:
Mr. A owned 60% of a mill and Mr. B the remainder.
Mr. A sold part of what he owned to Mr. B for $1,200, and then Mr. B owned as much as Mr. A.
At this rate, how much is the total value of the mill?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
The solution in the post by @mananth is incorrect,
since he incorrectly interpreted the problem and incorrectly setup the governing equation.
Below is my complete correct solution
let the value of the mill be 'x'.
A owned 3/5*x = 3x/5
B owned 2/5*x= 2x/5
After the deal, the part of mr.A is 3x/5 - 1200 dollars; the part of mr.B is 2x/5 + 1200 dollars.
Therefore, the "equality" equation after the deal is
3x/5 - 1200 = 2x/5 + 1200
Simplify and find 'x'
x/5 = 2400
x = 12000.
ANSWER. The total value of the mill is $12000.
Solved correctly.
Nice problem, and it deserves to be solved correctly and instructively.
Answer by n2(91)  (Show Source):
You can put this solution on YOUR website! .
Hi! I need to ask help for this problem. The answer that I got was $1,200,
and I've a nagging feeling that that may be wrong. The problem is:
Mr. A owned 60% of a mill and Mr. B the remainder.
Mr. A sold part of what he owned to Mr. B for $1,200, and then Mr. B owned as much as Mr. A.
At this rate, how much is the total value of the mill?
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
let the value of the mill be 'x'.
A owned 3/5*x = 3x/5
B owned 2/5*x= 2x/5
After the deal, the part of mr.A is 3x/5 - 1200 dollars; the part of mr.B is 2x/5 + 1200 dollars.
Therefore, the "equality" equation after the deal is
3x/5 - 1200 = 2x/5 + 1200
Simplify and find 'x'
x/5 = 2400
x = 12000.
ANSWER. The total value of the mill is $12000.
Solved.
Answer by greenestamps(13367)  (Show Source):
You can put this solution on YOUR website!
Certainly the answer of $1200 that you got for the total value must be wrong, since A sold part of his share to B for $1200. But since the correct answer is $12,000, perhaps your work was okay but you got the decimal point in the wrong place.
Initially, A owned 60%; after he sold some to B, the two had equal shares, so A now owned 50%.
That means 10% of the value traded hands, and the amount of that transaction was $1200. Since 10% is one-tenth of the total, the total value is $12,000.
ANSWER: $12,000
Answer by josgarithmetic(39838) (Show Source):
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