Mary and Mike enter invest $700 and $300 in a partnership. They divided their profits as follows: $\frac{1}{3}$ $1/3$ is divided equally the remainder is split according to the investments. If Mary received $800 more than Mike, what was the profit made by the business?

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Mary and Mike enter invest $700 and $300 in a partnership. They divided their profits as follows: $\frac{1}{3}$ $1/3$ is divided equally the remainder is split according to the investments. If Mary received $800 more than Mike, what was the profit made by the business?

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Answer 1 · 2016-05-15T11:49:40

business profit: $$ 1500$ $$1500$

Explanation:

Mary's share of the investments is
$XXX \frac{$ 300}{$ 700 + $ 300} = \frac{3}{10} (or 30 %)$ $color(white)("XXX")($300)/($700+$300) = 3/10 (or 30%)$

Let the business profit be $p$ $p$

According to the information given,
Mary should receive
$XXX \frac{1}{3} \times p + 30 % \cdot (\frac{2}{3} \times p)$ $color(white)("XXX")1/3xxp+ 30%*(2/3xxp)$

$XXX = \frac{100}{300} p + \frac{60}{300} p$ $color(white)("XXX")=100/300p+60/300p$

$XXX = \frac{160}{300} p$ $color(white)("XXX")=160/300p$

We are also told that Mary received $800#

So
$XXX \frac{160}{300} p = $ 800$ $color(white)("XXX")160/300p=$800$

$XXX \Rightarrow p = \frac{$ 800 \times 300}{160} = $ (5 \times 300) = $ 1500$ $color(white)("XXX")rArr p =($800xx300)/160 = $(5xx300)=$1500$

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Mary and Mike enter invest $700 and $300 in a partnership. They divided their profits as follows: $\frac{1}{3}$ $1/3$ is divided equally the remainder is split according to the investments. If Mary received $800 more than Mike, what was the profit made by the business?

1 Answer

Explanation:

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Impact of this question

Science

Math

Humanities

... and beyond

Mary and Mike enter invest $700 and $300 in a partnership. They divided their profits as follows: 131/3 is divided equally the remainder is split according to the investments. If Mary received $800 more than Mike, what was the profit made by the business?

1 Answer

Explanation:

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Impact of this question

Mary and Mike enter invest $700 and $300 in a partnership. They divided their profits as follows: $\frac{1}{3}$ $1/3$ is divided equally the remainder is split according to the investments. If Mary received $800 more than Mike, what was the profit made by the business?