Question

Steve and Elizabeth decide to become partners in a children’s cooking school. They need $80,000 for the franchise. They invest 3:4 radio respectively. About what percent of the business is owned Elizabeth?

Answer 1

Answer:

57.143%  

Step-by-step explanation:

We have been given that Steve and Elizabeth decide to become partners in a children’s cooking school. They need $80,000 for the franchise. They invest 3:4 radio respectively.

Let x be the amount that Elizabeth owned in business. The proportions for the partnership of Steve and Elizabeth will be same.

$\frac{x}{80000}=\frac{4}{3+4}$        

$\frac{x}{80000}=\frac{4}{7}$      

$x=\frac{4}{7}\times 80000$

$x=0.5714285714285714\times 80000$

$x=45714.285714285712\approx 45714.29$

Therefore, Elizabeth's share in children's cooking school is $45714.29.

Now let us find 45714.29 is what percent of 80000.

$\text{Percent of the business owned by Elizabeth}=\frac{45714.29}{80000}\times 100$  

$\text{Percent of the business owned by Elizabeth}=0.5714285714285714\times 100$

$\text{Percent of the business owned by Elizabeth}=57.14285714285714\approx 57.143$

Therefore, Elizabeth owned 57.143% of the business.