Question

Lisa and Mike are partners in a business. The income that the business earns is divided between Lisa and Mike in a 2:3 ratio respectively. Their business earned an income of $250,000 this year. How much will Lisa receive?

Answer 1

Lisa will receive $100,000 of the business income, which is her part of the 2:3 ratio they share from the $250,000 total income.

Step-by-step explanation:

To calculate Lisa's share of the $250,000 income from the business she runs with Mike, which is divided between them in a 2:3 ratio, we need to find the total parts they share the income into and then assign the monetary values accordingly to each part.

• The total parts of the ratio = 2 parts (for Lisa) + 3 parts (for Mike) = 5 parts.
• Each part is worth = Total income ÷ Total parts = $250,000 ÷ 5 = $50,000.
• Lisa's share = 2 parts × value of each part = 2 × $50,000 = $100,000.

Thus, Lisa will receive $100,000 of the business income.

Answer 2

Answer : Lisa earns $100,000 and

Mike earns $150,000

Explanation :

Let the share of income Lisa earns be 2x

Let the share of income Mike earns be 3x

According to question,

`2x+3x= \$ 250,000\\\\5x=\$250,000\\\\x=(250000)/(5)\\\\x=\$50,000`

So,

`\text{Lisa's share} = 2* 50000=\$100000\\\\\text{Mike's share }= 3* 50000=\$150000`

Hence, Lisa earns $100,000adn

Mike earns $150,000