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24 October, 07:15

Steve and Elizabeth decide to become partners in a children's cooking school. They need $80,000 for the franchise. They invest in a 3:4 ratio, respectively. How much did Elizabeth invest?

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  1. 24 October, 08:01
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    The share of Steve is $34,285.71

    The share of Elizabeth is $45,714.28

    Step-by-step explanation:

    The total investment of Steve and Elizabeth in cooking school = $80, 000

    The ratio of investment of Steve and Elizabeth = 3: 4

    Let us assume the common factor in the ratio is m.

    So, the ratio of Steve = 3 m

    and the ratio of Steve = 4 m

    So, according to the question:

    ⇒ 3 m + 4 m = 80,000

    or, 7 m = 80,000

    ⇒ m = 80,000 / 7 = 11,428.57

    or, m = 11,428.57

    ⇒ The share of Steve = 3 m = 3 x (11,428.57) = 34,285.71

    ⇒ The share of Elizabeth = 4 m = 4 x (11,428.57) = 45,714.28
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