Three partners shared the profit in a business in the ratio 5: 7: 8. They had collaborated for 14 months, 8 months and 7 months respectively. What was the ratio of their investments?35 : 28 : 910:12:165 : 7 : 820 : 49 : 6438 : 28 : 21
Question
Three partners shared the profit in a business in the ratio 5: 7: 8. They had collaborated for 14 months, 8 months and 7 months respectively. What was the ratio of their investments?35 : 28 : 910:12:165 : 7 : 820 : 49 : 6438 : 28 : 21
Solution
To find the ratio of their investments, we need to consider the ratio of their profit sharing and the duration of their collaboration.
Let's assume the investments of the three partners are represented by x, y, and z.
According to the given information, the profit sharing ratio is 5:7:8. This means that for every 5 units of profit, the first partner gets 5/20, the second partner gets 7/20, and the third partner gets 8/20.
Now, let's calculate the total profit for each partner based on their collaboration duration. The first partner collaborated for 14 months, the second partner for 8 months, and the third partner for 7 months.
The total profit for the first partner is (5/20) * 14 = 3.5 units. The total profit for the second partner is (7/20) * 8 = 2.8 units. The total profit for the third partner is (8/20) * 7 = 2.8 units.
Now, let's find the ratio of their investments. We can set up the following equation:
x/y = 3.5/2.8
To simplify the equation, we can multiply both sides by 10:
10x/10y = 35/28
Simplifying further, we get:
x/y = 35/28
Therefore, the ratio of their investments is 35:28.
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