Answer:
Three partners share for business. Each partner’s receive Max-$ 93,750 and Sherry-$ 100,000 and Duane-$ 56,250
Solution:
Given that three partners share the business
Max owns 3/8, Sherry owns 2/5, and Duane owns the rest
Profit of the year is 250,000
We need to find how much is the share of each partner
Share owned by Max [tex]=\frac{3}{8}[/tex]
Share owned by Sharry = [tex]\frac{2}{5}[/tex]
Share owned by Duane [tex]=1-\left(\frac{3}{8}+\frac{2}{5}\right)=\frac{9}{40}[/tex]
Total profit earned = $250,000
Thus, Max receives = [tex]\frac{3}{8} \times250,000[/tex] = $93,750
Sharry receives = [tex]\frac{2}{5} \times 250,000[/tex] = $100,000
Duane receives = [tex]\frac{9}{40} \times250,000[/tex] = $56,250
Hence the share of Max , Sharry and Duane is calculated.
