Question

5. Joe, Thea, and Taylor invested in a partnership in the ratio 1:4:7, respectively. Years later, the partnership was worth $2,400,000. How equity ($) does Joe have in the company now? * 6. Joe, Thea, and Taylor invested in a partnership in the ratio 1:4:7, respectively. Years later, the partnership was worth $2,400,000. How equity ($) does Thea have in the company now? * 7. Joe, Thea, and Taylor invested in a partnership in the ratio 1:4:7, respectively. Years later, the partnership was worth $2,400,000. How equity ($) does Taylor have in the company now?

Answer 1

5.

Joe has $20,000 in the company.

6.

Thea has $80,000 in the company.

7.

Taylor has $1,40,000 in the company.

Explanation:

Given that, Joe, Thea and Taylor invested in partnership in the ratio 1:4:7.

Let, x represent the worth belonging to Joe, 4x represent the worth belonging to Thea, 7x represent the worth belonging to Taylor.

The partnership worth is $2,40,000.

According to the problem,

x+4x+7x=2,40,000

⇒12x=2,40,000

`\Rightarrow x=(2,40,000)/(12)`

`\Rightarrow x=20,000}`

5.

Joe has $20,000 in the company.

6.

Thea has $(20,000×4)=$80,000 in the company.

7.

Taylor has $(20,000×7)=$1,40,000 in the company.