Question

Julie and Kristen are the partners in a local sporting goods shop. They needed $51,000 to start the business. They invested in the ratio 5:12, respectively. How much money did each make? What percent of the business was owned by Kristen? If the business grows to $3,000,000, what percent of it will Julie own?

Answer 1

5:12 means there are 17 parts
Percentages are calculated by dividing the part by the total, and multiplying by 100
Julie put in 5 out of 17 parts so:

`(5)/(17)`×100=29.4%
Kristen owns the rest of the business
`(12)/(17)`×100=70.6%

The amount of money doesn't make a difference, as the percentage will always be the same.