Question

Three partners share a business. Max owns 3 8 , Sherry owns 2 5 , and Duane owns the rest. If the profits this year are $350,000, how much does each partner receive (in $)?

Answer 1

Max =$131,250

Sherry=$140,000

Duane=$78,750

Explanation:

Max will receive 3/8 ×$350,000=$131,250

Sherry will receive 2/5 × $350,000=$140,000

Duane will receive $350,000-$(131,250+140,000)

$350,000-$271,250=$78,750.