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Three friends pull their money together to purchase some raffle tickets.

They win a total of 24,000. The contribution ratio is 7:8:10. How much
money will each person receive?

User Linc Abela
by
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1 Answer

5 votes

Final answer:

Each person will receive $6,720, $7,680, and $9,600, respectively.

Step-by-step explanation:

To find out how much money each person will receive, we first need to find the total number of parts in the contribution ratio, which is 7 + 8 + 10 = 25. Next, we divide the total winnings of $24,000 by the total number of parts, which gives us $24,000 / 25 = $960 per part. Finally, we multiply the amount per part by the individual ratios to find the amount each person will receive:

Person 1: 7 parts x $960 = $6,720

Person 2: 8 parts x $960 = $7,680

Person 3: 10 parts x $960 = $9,600

Therefore, each person will receive $6,720, $7,680, and $9,600, respectively.

User Vinod Sharma
by
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