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Julie and Kristen are partners in a local sporting good store. They needed $51,000 to start the
business. They invested in the ratio of 3:10 respectively. How much money did each invest?
What percent is owned by Kristen?

Sagot :

Answer: See explanation

Explanation:

Since the amount needed to start the

business is $51000 and Julie and Kristen invested in the ratio of 3:10 respectively.

Amount invested by Julie = 3/(3+10) × $51000

= 3/13 × $51000

= $11769.23

Amount invested by Kristen = 10/(3+10) × $51000

= 10/13 × $51000

= $39230.77

The percent that is owned by Kristen will be:

= ($39230.77 / $51000) × 100

= 76.92%

= 77% approximately

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