Answer:
The first partner will receive $52950, the second partner will receive $35300, the third partner will receive $88250.
Step-by-step explanation:
The profits in the business are to be shared by the three partners in the ratio of 3 to 2 to 5, in that order.
That is:
3 : 2 : 5
The profit for the year was $176,500.
To find the number of dollars that each partner, we have to first find the total ratio and then divide each of the ratios by the total ratio and multiply by the profit.
The total ratio is:
3 + 2 + 5 = 10
The first partner will receive 3/10 of the profits:
[tex]\frac{3}{10} * 176500[/tex] = $52950
The second partner will receive 2/10 of the profits:
[tex]\frac{2}{10} * 176500[/tex] = $35300
The third partner will receive 5/10 of the profits:
[tex]\frac{5}{10} * 176500[/tex] = $88250
The first partner will receive $52950, the second partner will receive $35300, the third partner will receive $88250.
We know the ratio in which the profit is divided, from that we will see that each partner gets:
So we know that the ratio in which the profit is divided is 3 to 2 to 5.
Notice that 3 + 2 + 5 = 10
So we can just divide the profit in 10 parts, 3 of these parts go to the first partner, 2 parts go to the second partner, and 5 parts go to the last partner.
The total profit is:
$176,500
Dividing it by 10 we get:
$176,500/10 = $17,650
So the first partner gets 3 times that, or:
3*$17,650 = $52,900
The second part gets 2 times that, or:
2*$17,650 = $35,300
The last partner gets 5 times that:
5*$17,650 = $88,250
That is what each partner gets.
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