Question

greg paid $1400nigelpaied$ 1050
mike paied $1750totoalcostofboatis$ 4200

five years latr they sell the boat for $3300
a) how much does each of them recive from the sale of the boat ?
b) how much more money did mike lose from the sake of the boat then greg?
c) who made the smallest loose from the sale of the boat? how much did he get.

Answer 1

(a)Ratio of amount paid for boat
Greg : Nigel:MIke
1400/4200:1050/4200 :1750/4200
1/3 : 1/4 :5/12

Price for which they sold the boat,Ps =3300

Amount Greg recive from the sale of the boat =Ratio of amount paid for boat by Greg/Price sold
=(1/3)*3300=1100

Amount Nigel recive from the sale of the boat =Ratio of amount paid for boat by Nigel/Price sold
=(1/4)*3300=825

Amount Mike recive from the sale of the boat =Ratio of amount paid for boat by Mike/Price sold
=(5/12)*3300=1375
(b)money did mike lose from the sale of the boat =Amount Mike paid for the boat- Amount Mike recive = from the sale of the boat =1750-1375
= 375
money did Greg lose from the sale of the boat =Amount Greg paid for the boat- Amount Greg recive = from the sale of the boat =1400-1100
=300
money mike lose from the sale of the boat than greg=money did mike lose from the sale of the boat -
=money did Greg lose from the sale of the boat
=375-300
=75
therfore mike lose 75 more more from the sake of the boat than greg
(c)
(b)money did Nigel lose from the sale of the boat =Amount Nigel paid for the boat- Amount Nigel recive = from the sale of the boat =1050-825
= 225
Mike lost 375,Greg lost 300,Nigel lost 225,
Therfore Nigel lost least amount compared to others