Question

14. 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 profits if Jerome made $150,000? Write an equation and solve.

Answer 1

Answer

Find out the what were the company’s overall profits .

To prove

Let us assume that the company’s overall profits be x.

As  given

Jerome is a co-owner of a small company

$received\ \frac{1}{3}\ of\ the\ company\ profits\ this\ year.$

if Jerome made $150,000 .

Than the equation in the form

$\frac{x\times 1}{3} = 150000$

Solving

x = 150000 × 3

x = $450000

Therefore the overall profits if Jerome made  be $ 450000 .

Hence proved

Answer 2

The equation for this problem is y = 3x, where y is the company's overall profit for this year and x is Jerome's portion of profit for this year. The company's profit for this year is $450,000 which can be acquired by multiplying Jerome's income by 3 ($450,000 = $150,000 x 3). This company is would likely a partnership because the owner gets a big portion of profit from the company.