Here is a problem involving ratio , and the answer plus work as given by my text book. I get a little lost at the underlines part. I don't understabnd how we arrived at a ratio of 24:9. Can any one help me out?(adsbygoogle = window.adsbygoogle || []).push({});

Mr Smith starts a business with $50,000.

3 months later, Mr Jones joins the business. He invests $25,000.

The profit at the end of the year is $11,000. It is divided in proportion to how much was invested and for how long.

How much does each partner receive?

ANSWER

Mr Smith invests $50,000 for 12 months.

Mr Jones invests $25,000 for 9 months.

Ratio = 50,000 x 12: 25,000 x 9

= 24:9

= 8:3

$11,000 is divided in ratio 8:3

Mr S has 8/11 x 11,000 = $8,000

Mr J has 3/11 x 11,000 = $3,000

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# Homework Help: Ratio problem

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