Three partners shared the profit in a business in the ratio 5 : 7 : 8. They had partnered for 14 months, 8 months and 7 months respectively. What was the ratio of their investments?
Let me solve this step by step.
1) Let’s understand the given information:
* Profit ratio = 5 : 7 : 8
* Partner 1 invested for 14 months
* Partner 2 invested for 8 months
* Partner 3 invested for 7 months
2) In partnership, Investment ratio can be found using:
Investment ratio = Profit ratio ÷ Time ratio
3) For each partner:
* First partner = 5 ÷ 14
* Second partner = 7 ÷ 8
* Third partner = 8 ÷ 7
4) Converting to decimals:
* First partner = 0.357
* Second partner = 0.875
* Third partner = 1.143
5) To get the ratio in whole numbers, multiply each by 1000:
* First partner = 357
* Second partner = 875
* Third partner = 1143
Therefore, the ratio of their investments was 357 : 875 : 1143
