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Jim, Sue, and Marion have set up a partnership. The total amount contributed to the partnership is $315,000. Sue’s contribution is one-half of Jim’s contribution, and Marion’s contribution is two times Jim’s contribution.

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Edufirst

Answer:

  • Jim's contribution: $90,000
  • Sue’s contribution: $45,000
  • Marion’s contribution: $180,000

Explanation:

The question is:

  • Find the amount of the three person's contribution to the partnership.

Solution

You can set one equation by stating the three contributions in terms of a common variable:

  • Jim's contribution: x
  • Sue’s contribution is one-half of Jim’s contribution: x/2
  • Marion’s contribution is two times Jim’s contribution: 2x
  • Total amount contributed: $315,000

Equation:

  • x + x/2 + 2x = 315,000

Solve:

1. Multiply the whole equation by the least common denominator: 2

  • 2x + x + 4x = 630,000

2. Add like terms

  • 7x = 630,000

3. Division property of equalities: divide both sides by 7

  • x = 630,00 / 7 = 90,000

4.  Determine each contribution:

  • Jim's contribution: x = $90,000
  • Sue’s contribution: x/2  = $90,000/s2 = $45,000
  • Marion’s contribution: 2x = 2 ($90,000) = $180,000

You can verify the result:

  • $90,000 + $45,000 + $180,000 = $315,000 [tex]\checkmark[/tex]

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