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17 August, 21:55

Three partners share a business. Max owns 3/8, Sherry owns 2/5, and Duane owns the rest. If the profits this year are $450,000, how much does each partner receive (in $) ?

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  1. 17 August, 22:08
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    Max $ 168,750, Sherry $ 180,000 Duane $ 101,250

    Explanation:

    The total profit is considered as 100 %

    Max share is 3/8 or expressed as a %: 3/8*100 = 37.5 %

    Sherry share is 2/5 or expressed as a % 2/5*100 = 40 %

    Duane share is 100 % - 37.5 % (Max share) - 40 % (Sherry share) = 22.5 %

    The allocation fo profits of % 450,000 is distributed as follows:

    Max $ 450,000 * 37.5 % = $ 168,750

    Sherry $ 450,000 * 40 % = $ 180,000

    Duane $ 450,000 * 22.5 % = $ 101,250
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