At the end of trading session three businessmen peter,John and Thomas shared a net profit of kshs.620,000 such that peter got 3 1/2 times as much as John while John got 1 1/2 times as Thomas. Calculate the amount of money that peter got over John

Business/Management

ScanSolve AI Answer

Answer

300,000

Step-by-step solution

7 steps

Let the amount Thomas received be xx.

  1. Express John's amount in terms of xx.

    John received 1.51.5 times what Thomas received:

    John’s amount=1.5x=32x.\text{John's amount} = 1.5x = \frac{3}{2}x.
  2. Express Peter's amount in terms of xx.

    Peter received 3.53.5 times what John received:

    Peter’s amount=3.5×32x=214x.\text{Peter's amount} = 3.5 \times \frac{3}{2}x = \frac{21}{4}x.
  3. Write the total profit equation.

    The total profit shared among Peter, John, and Thomas is 620,000620,000:

    Peter’s amount+John’s amount+Thomas’s amount=620,000.\text{Peter's amount} + \text{John's amount} + \text{Thomas's amount} = 620,000.

    Substituting the expressions we found:

    214x+32x+x=620,000.\frac{21}{4}x + \frac{3}{2}x + x = 620,000.
  4. Convert all terms to a common denominator (4)

    214x+64x+44x=620,000.\frac{21}{4}x + \frac{6}{4}x + \frac{4}{4}x = 620,000.

    Combine the fractions:

    314x=620,000.\frac{31}{4}x = 620,000.
  5. Solve for xx

    31x=620,000×4,31x = 620,000 \times 4, 31x=2,480,000,31x = 2,480,000, x=2,480,00031≈80,000.x = \frac{2,480,000}{31} \approx 80,000.
  6. Calculate John's and Peter's amounts

    • John's amount:
    John’s amount=1.5x=1.5×80,000=120,000.\text{John's amount} = 1.5x = 1.5 \times 80,000 = 120,000.
    • Peter's amount:
    Peter’s amount=3.5×120,000=420,000.\text{Peter's amount} = 3.5 \times 120,000 = 420,000.
  7. Calculate the difference between Peter's and John's amounts

    Difference=Peter’s amount−John’s amount=420,000−120,000=300,000.\text{Difference} = \text{Peter's amount} - \text{John's amount} = 420,000 - 120,000 = 300,000.

    Final answer:
    Peter got 300,000\boxed{300,000} more than John.

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