Question

d) Three brothers John, Kennedy and Isaac form a partnership. Their respective capitals are \( \mathrm{K} 150,000, \mathrm{~K} 250,000 \) and K400, 000. Profits are to be shared in proportion to capital. At the end of the year, it is found that Isaac's share of the profit exceeds Kennedy's share by K600, 000. Calculate: i) the total profit; (4 Marks)

          d) Three brothers John, Kennedy and Isaac form a partnership. Their respective capitals are \( \mathrm{K} 150,000, \mathrm{~K} 250,000 \) and K400, 000. Profits are to be shared in proportion to capital. At the end of the year, it is found that Isaac's share of the profit exceeds Kennedy's share by K600, 000.
Calculate:
i) the total profit;
(4 Marks)

d) Three brothers John, Kennedy and Isaac form a partnership. Their respective capitals are K 150,000, K 250,000 and K400, 000. Profits are to be shared in proportion to capital. At the end of the year, it is found that Isaac's share of the profit exceeds Kennedy's share by K600, 000.
Calculate:
i) the total profit;
(4 Marks)

Added by Whitney C.

Principles of Economics

Steven A. Greenlaw, David Shapiro 2nd Edition

Chapter 7

Instant Answer

Solved by Expert Riham Bassal

07/17/2021

Step 1

The ratio of John : Kennedy : Isaac = 150,000 : 250,000 : 400,000 = 3 : 5 : 8 This means that for every K16 of profit, John gets K3, Kennedy gets K5, and Isaac gets K8. According to the problem, Isaac's share of the profit exceeds Kennedy's share by K600,000. Show more…

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