Question

Dennis owns 24% of partnership. Bob owns 48% of partnership. If Rich is the third partner, what percentage does he own? Write a simplified ratio to represent their investments in the partnership.

Answer 1

Rich's share in the partnership is 28%.

The simplified ratio to represent their investments in the partnership is 6:12:7.

Step-by-step explanation:

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Answer 2

Answer: Rich's share in the partnership is 28%.

The simplified ratio to represent their investments in the partnership is 6:12:7.

We arrive at the answer as follows:

The total of individual shares of all the partners in a partnership should be 100%.

Given this,

`Rich's share = 100 - Dennis's share - Bob's share`

`Rich's share = 28 (100 - 24 -48)`

Rich's share = 28%

Now, that we have the shares of all the partners, we can write the ratio of their individual investments as 24:48:28.

We can divide 24, 28 and 48 by 4 in order to arrive at a simplified investment ratio.

After dividing by 4, the simplified ratio will be 6:12:7.