Ami and Yayra entered into a business partnership with a total of 81 million Ghana cedis they agreed to contribute the capital in the ratio 2:1 respectively. The profit was shared as follow: Ami was paid 5% of the total profit for her services as the manager. Each partner was paid 3% of the capital invested. The remainder of the profit was then shared between them in the ratio of their contribution to the capital. If Ami's share of the total profit was 7.5 million Ghana cedis, calculate a) The total profit for the year to the nearest thousand cedis b) Yayra's share of the profit as a percentage of her contribution to the capital

Ami and Yayra entered into a business partnership with a total of 81 million Ghana cedis they agreed to contribute the capital in the ratio 2:1 respectively. The profit was shared as follow: Ami was paid 5% of the total profit for her services as the manager. Each partner was paid 3% of the capital invested. The remainder of the profit was then shared between them in the ratio of their contribution to the capital. If Ami's share of the total profit was 7.5 million Ghana cedis, calculate a) The total profit for the year to the nearest thousand cedis b) Yayra's share of the profit as a percentage of her contribution to the capital

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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