This is another proportion question that I am having trouble with. Please help me solve it a.s.a.p, it would be greatly appreciated!You and your two friends, Jim and Susan have decided to open a...

This is another proportion question that I am having trouble with. Please help me solve it a.s.a.p, it would be greatly appreciated!

You and your two friends, Jim and Susan have decided to open a business. You contribute $24 000 to the start-up, while Jim and Susan contribute $14 750 and $11 200 respectively. A few months later, due to bad economic conditions, the business needs an additional investment of $20 000 from the partners. How much money should each person contribute to maintain the investment in the original ratio

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hala718 | High School Teacher | (Level 1) Educator Emeritus

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The portions of the investments started as follows:

you= 24,000

Jim= 14,740

Susan = 11,200

The total investment = 24,000+14,750+11,200= 49,950

Now we will determine the ratio for each one.

You = 24,000/ 49,950

Jim = 14,740/49950

Susan = 11200/49950

Now we will need to add 20,000 to the total investment and determine how much each should contribute based of the same ratios.

Total investment now = 49950 + 20000 = 69,950

Now we will calculate total investment for each:

You = x/69950 = 24000/49950

==> x = (24000*69950)/49950 = 33,610

Jim = y/69950 = 14750/49950

==> y= (69950*14750)/49950 = 20,656

Susan = z/69950 = 11200/49950

==> z = (11200*69950)/49950 = 15,684

Now we will subtract the initial investment from each to find how much each should contribute:

==> You = 33610 - 24000 = 9610

==> Jim = 20,656 -14750 = 5906

==> Susan = 15684 -11200 = 4484

Now to check the answer , the total additional investment should equal 20000

==> 9610 + 5906 + 4484 = 20000

Then the answer as follows:

The amount each should contribute is:

you = $9610

Jim = $5906

Susan = $4484

 

 

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