Julie and Kristen are the partners in a local sporting goods shop. They needed $51,000 to start the business. They invested in t
he ratio 5:12, respectively. How much money did each make? What percent of the business was owned by Kristen? If the business grows to $3,000,000, what percent of it will Julie own?
5:12 means there are 17 parts Percentages are calculated by dividing the part by the total, and multiplying by 100 Julie put in 5 out of 17 parts so: ×100=29.4% Kristen owns the rest of the business ×100=70.6%
The amount of money doesn't make a difference, as the percentage will always be the same.
