SOLUTION: Joseph has two-fifths interest in a partnership. He sold five-sixths of his interest for $3000. a) What was the total amount of his interest before selling? b) What is the value

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: Joseph has two-fifths interest in a partnership. He sold five-sixths of his interest for $3000. a) What was the total amount of his interest before selling? b) What is the value       Log On


   

Question 713352: Joseph has two-fifths interest in a partnership. He sold five-sixths of his interest for $3000.
a) What was the total amount of his interest before selling?
b) What is the value of the partnership?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let +v+ = the value of the partnership
given:
+%282%2F5%29%2A%285%2F6%29%2Av+=+3000+
+%2810%2F30%29%2Av+=+3000+
+%281%2F3%29%2Av+=+3000+
+v+=+9000+
(a)
Before selling the amount of his interest was
+%282%2F5%29%2A9000+=+3600+
$3,600
(b)
The value of the partnership was $9,000