Question

Julie and Kristen are partners in a local sporting store. they needed $51,000 to start the business. They invest in the ratio 5:12, respectively

A). how much money did each invest
B).what percent of the business was owned by Kristen round to the nearest 10th.
c). if the business grows 3,000,000 what percent of it will Julie own. round to the nearest 10th

Answer 1

5:12 is the same as 5x:12x where Kristen's share is 12x --- Julie's percentage = 5x/17x = 5/17 = 29.4% --- Kristen's percentage = 12x/17x = 12/17 = 70.6%

Answer 2

A) $15,000 and $36,000

B) 70.59%

C) 29.41%

Explanation:

A) Given that they invested in the ratio 5:12 then 5/(5+12) = 5/17 was invested by Juli and 12/17 was invested by Kristen. In money that is:

Juli: 5/17 * $51,000 = $15,000

Kristen: 12/17 * $51,000 = $36,000

B) The percent owned by Kristen is 12/17*100 = 70.59%

C) The percent owned by Juli is 5/17*100 = 29.41%