Joe and Jeff are partners in a business. Joe is an active partner and Jeff is a sleeping one. Joe invests \ 5000 \. Joe receives () of the profit for managing the business and the rest is divided in proportion to their investment. What does each get out of a profit of \ 880$?
- A\ 460; \
- B\ 450; \
- C\ 370; \
- D$ \
Solution & Step-by-step Explanation
1. Joe's management fee: of \ 880 = \frac{12.5}{100} \times 880 = \frac{1}{8} \times 880 = \.2. Remaining profit: 880 - 110 = \ 770 5000 : 6000 = 5 : 6 5 + 6 = 11 \frac{5}{11} \times 770 = 5 \times 70 = \.6. Jeff's share: \frac{6}{11} \times 770 = 6 \times 70 = \ 420 \110 + \ 350 = \.Total for Jeff = \ 420$.