Question

Julio Jones and Matt Ryan are partners in a Moe's Southwest Grill. They need $196,000 to start the business. They invested in the ratio 3:5.

A) How much did Julio Jones invest? (no $ in answer)
B) How much did Matt Ryan invest? (no $ in answer)
C) What % of the business was owned by Julio Jones? Round to the nearest tenth

Answer 1

Julio Jones invested $73,500, Matt Ryan invested $122,500, and Julio Jones owns 37.5% of the business after rounding to the nearest tenth.

Step-by-step explanation:

Julio Jones and Matt Ryan are partners in a business and they invested in the ratio 3:5. To determine their individual investments, we first sum the parts of the ratio (3 + 5 = 8) to understand the total number of parts. Since they need $196,000 to start the business, each part is worth $196,000 / 8 = $24,500.

A) Julio Jones invested 3 parts, so his investment is 3 × $24,500 = $73,500.

B) Matt Ryan invested 5 parts, so his investment is 5 × $24,500 = $122,500.

C) To find the percentage of the business owned by Julio Jones, divide his investment by the total investment needed ($73,500 / $196,000) and then multiply by 100 to get the percentage. Julio Jones owns 37.5% of the business, which rounds to 37.5% when rounded to the nearest tenth.