Question 284285
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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?
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        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.


<U>ANSWER</U>.  &nbsp;&nbsp;The total value of the mill is &nbsp;$12000.


Solved correctly.



Nice problem, and it deserves to be solved correctly and instructively.