16. Jerome is a co-owner of a small company and received 1/3 of the company’s profits this year. What were the company’s overall
1 answer:
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Answer:
A) $8200.
B) 16.4%
Step-by-step explanation:
Here is the complete question: An investment firm invested in two companies last year. They invested $40,000 in company A and made a profit of 15%. They invested $10,000 in company B and made a profit of 22%.
A) What is the investment firms total profit?
B) What is the percent profit of the total investment?
Given: Company A invested $40000 and made profit of 15%
Company B invested $10000 and made profit of 22%
A) First lets find the profit of company A and B.
Company A=
∴ Profit of company A is $6000.
Company B=
∴ Profit of company B is $2200.
Total profit= profit of company A+ profit of company B
⇒
∴ Total Profit=
Hence, the total profit of investment firm is $8200.
B) Now finding the percentage of total profit made by firm.
Total investment by the firm=
∴ Total investment done by the firm is $50000.
Percent of profit=
⇒ Percent of profit=
⇒ Percent of profit=
Hence, 16.4% is the percent profit of the total investment.