Final answer:
Mr. Koll's share of the $38,000 profit, based on a 3:2 ratio with his partner, is $15,200.
Step-by-step explanation:
Mr. Jones and Mr. Koll are business partners who agreed to divide the profits in the ratio of 3:2. If their profit amounted
to $38,000, we can find Mr. Koll's share by calculating the portion he is entitled to according to the agreed profit-sharing ratio.
First, we add the ratio numbers together to determine the total parts of the profit: 3 + 2 = 5 parts in total. Mr. Koll's share is the 2 parts of the profit. To find the value of one part, we divide the total profit by the total number of parts:
$38,000 ÷ 5 = $7,600 per part.
Now, we multiply the value per part by the number of parts Mr. Koll is entitled to:
$7,600 × 2 = $15,200.
Therefore, Mr. Koll's share of the profit is $15,200.