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Homework Help: Ratio problem

  1. Jan 7, 2010 #1
    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?

    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
     
  2. jcsd
  3. Jan 7, 2010 #2

    tiny-tim

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    Science Advisor
    Homework Helper

    Hi Gringo123! :smile:

    If they invested the same amount, it would be 12:9, wouldn't it?

    But Smithy invested twice as much, so it's 24:9. :wink:

    (alternatively, you can treat the ":" as a "/" …

    if you multiply it out, 50x12/25x9 = 24/9)
     
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