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Ratio Word Problem: Sharing Profits

Ratio Word Problem: Sharing Profits

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Danny and Eric started an online business. Danny invested \(\$60\,000\) and Eric invested \(\$24\,000\). They agreed that all the profits should be divided in the same ratio as the amounts of money they have invested. The profit was \(\$14\,700\).

  1. Write the ratio \(60\,000:24\,000\) in its simplest form.
  2. Calculate Eric’s share of the profit.
  3. How much more profit does Danny get?

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Answer:(a) \(5:2\) (b) \(\$4200\) (c) \(\$6300\) more

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