Julie and Kristen are the partners in a local sporting goods shop. They needed $51,000 to start the business. They invested in t

Question

3 years ago

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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?

Mathematics

1 answer:

exis [7] · Answer 1 · 2022-06-02T13:04:51+03:00

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:
$\frac{5}{17}$ ×100=29.4%
Kristen owns the rest of the business $\frac{12}{17}$ ×100=70.6%

The amount of money doesn't make a difference, as the percentage will always be the same.