buss math problem

[monkeybusiness]

Natalie, Michelle and Leah have formed a partnership to start a specialty restaurant in the Ottawa area featuring Belgian Waffles and other Belgian Cuisine. Their initial investments were in the ratio of 3:7:13 respectively. In total the three partners contributed $325750 C$.

To cover additional expenses such as (repairs, maintenance and miscellaneous expenses) the three of them decided to bring the total of their investment to $525,445 while maintaining their original proportionate partnership. The partners agreed to share the profits in the ratio of their original investments. The total profit, at the end of the first fiscal year, was $139000.

Natalie converted one-third of her profits to British pounds(£) and saved the balance in her bank in Ottawa. Michelle converted two-fifths of her profits to Swiss francs (CHF) and saved the balance in her bank in Ottawa. Leah flew to London England and spent 13000£, including service charges, on clothes and designer accessories. On her return to Ottawa, she converted the rest to Euros(€)at her bank and went on a vacation to France.

Assume the following exchange rates in answering the following:

C$1 = US$0.8996 C$1 = £0.5425 C$1 = CHF0.8063 C$1 = €0.6579

1. Calculate the amount initially invested by Natalie, Michelle and Leah.
2. Calculate the amount contributed by each partner for miscellaneous expenses to raise their total investment to $525,445 and to maintain the original proportionate partnership of 3:7:13?
3. How much did Natalie save in British pounds and Michelle save in Swiss francs?
4. How many Euros did she get in exchange?
I have 1,2 but i cant seem to get 3,4.

 

[Deleted member 4993]

Natalie, Michelle and Leah have formed a partnership to start a specialty restaurant in the Ottawa area featuring Belgian Waffles and other Belgian Cuisine. Their initial investments were in the ratio of 3:7:13 respectively. In total the three partners contributed $325750 C$.

To cover additional expenses such as (repairs, maintenance and miscellaneous expenses) the three of them decided to bring the total of their investment to $525,445 while maintaining their original proportionate partnership. The partners agreed to share the profits in the ratio of their original investments. The total profit, at the end of the first fiscal year, was $139000.

Natalie converted one-third of her profits to British pounds(£) and saved the balance in her bank in Ottawa. Michelle converted two-fifths of her profits to Swiss francs (CHF) and saved the balance in her bank in Ottawa. Leah flew to London England and spent 13000£, including service charges, on clothes and designer accessories. On her return to Ottawa, she converted the rest to Euros(€)at her bank and went on a vacation to France.

Assume the following exchange rates in answering the following:

C$1 = US$0.8996 C$1 = £0.5425 C$1 = CHF0.8063 C$1 = €0.6579

1. Calculate the amount initially invested by Natalie, Michelle and Leah.
2. Calculate the amount contributed by each partner for miscellaneous expenses to raise their total investment to $525,445 and to maintain the original proportionate partnership of 3:7:13?
3. How much did Natalie save in British pounds and Michelle save in Swiss francs?
4. How many Euros did she get in exchange?
I have 1,2 but i cant seem to get 3,4.

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[monkeybusiness]

Natalie, Michelle and Leah have formed a partnership to start a specialty restaurant in the Ottawa area featuring Belgian Waffles and other Belgian Cuisine. Their initial investments were in the ratio of 3:7:13 respectively. In total the three partners contributed $325750 C$.

To cover additional expenses such as (repairs, maintenance and miscellaneous expenses) the three of them decided to bring the total of their investment to $525,445 while maintaining their original proportionate partnership. The partners agreed to share the profits in the ratio of their original investments. The total profit, at the end of the first fiscal year, was $139000.

Natalie converted one-third of her profits to British pounds(£) and saved the balance in her bank in Ottawa. Michelle converted two-fifths of her profits to Swiss francs (CHF) and saved the balance in her bank in Ottawa. Leah flew to London England and spent 13000£, including service charges, on clothes and designer accessories. On her return to Ottawa, she converted the rest to Euros(€)at her bank and went on a vacation to France.

Assume the following exchange rates in answering the following:

C$1 = US$0.8996 C$1 = £0.5425 C$1 = CHF0.8063 C$1 = €0.6579

1. Calculate the amount initially invested by Natalie, Michelle and Leah.
2. Calculate the amount contributed by each partner for miscellaneous expenses to raise their total investment to $525,445 and to maintain the original proportionate partnership of 3:7:13?
3. How much did Natalie save in British pounds and Michelle save in Swiss francs?
4. How many Euros did she get in exchange?
I have 1,2 but i cant seem to get 3,4.

so
1) $325750 = 3x+7x+13x
$325750 = 23x
325750/23 = 14,163.0435
3x = 3(14163.0435) = 42,489.1305 Natalie
7x = 7(14163.0435) = 99,141.3043 Michelle
13x = 13(14163.0435) = 184,119.566 Leah
2) $525445 = 3x+7x+13x
525445 = 23x
525445/23 = 22,845.4348
3x = 3(22845.4348) = 68,536.3043 - 42,489.1304 = 26,047.1739
7x = 7(22845.4348) = 159,918.043 - 99,141.3043 = 60,776.7387
13x = 13(22845.4348) = 296,990.652 - 184,119.566 = 112,871.086
I believe that's all correct.

 

[Deleted member 4993]

so
1) $325750 = 3x+7x+13x
$325750 = 23x
325750/23 = 14,163.0435
3x = 3(14163.0435) = 42,489.1305 Natalie
7x = 7(14163.0435) = 99,141.3043 Michelle
13x = 13(14163.0435) = 184,119.566 Leah
2) $525445 = 3x+7x+13x
525445 = 23x
525445/23 = 22,845.4348
3x = 3(22845.4348) = 68,536.3043 - 42,489.1304 = 26,047.1739
7x = 7(22845.4348) = 159,918.043 - 99,141.3043 = 60,776.7387
13x = 13(22845.4348) = 296,990.652 - 184,119.566 = 112,871.086
I believe that's all correct.

Look's good - but you never did tell us:

What is x?

Oh another point - how did Natalie and others pay "fractional" penny? in pesos? in paisa?

 

[tkhunny]

so
1) $325750 = 3x+7x+13x
$325750 = 23x
325750/23 = 14,163.0435
3x = 3(14163.0435) = 42,489.1305 Natalie
7x = 7(14163.0435) = 99,141.3043 Michelle
13x = 13(14163.0435) = 184,119.566 Leah
2) $525445 = 3x+7x+13x
525445 = 23x
525445/23 = 22,845.4348
3x = 3(22845.4348) = 68,536.3043 - 42,489.1304 = 26,047.1739
7x = 7(22845.4348) = 159,918.043 - 99,141.3043 = 60,776.7387
13x = 13(22845.4348) = 296,990.652 - 184,119.566 = 112,871.086
I believe that's all correct.

Well, that probably seems fine in your head, but it is NOT fine in the notation.

3x = 3(22845.4348) = 68,536.3043 is fine.
68,536.3043 - 42,489.1304 = 26,047.1739 is fine
3x = 3(22845.4348) = 68,536.3043 - 42,489.1304 = 26,047.1739 is not fine. Do you see why?

Also, when talking about actual monies it may be appropriate to keep it to two (2) decimal places. Maybe not. It depends on what exactly you are doing. Exchange rates make this more difficult.

 

[tkhunny]

What is 1/3 of Natlie's profit in C$?

C$1 = £0.5425

 

[monkeybusiness]

x is supposed to be the amount that each person invested but i might not be doing it the way it should be done. this kind of math is not my forte.
c$ is supposed to be Canadian so 1 Canadian is 0.5425 British pounds

 

[monkeybusiness]

so 26047.17*0.33 = 8,682.39
then 8,682.39*0.5425 = 4,710.20

 

[tkhunny]

x is supposed to be the amount that each person invested but i might not be doing it the way it should be done. this kind of math is not my forte.
c$ is supposed to be Canadian so 1 Canadian is 0.5425 British pounds

No, 'x' is not the amount each person invested. "x" is a unit investment - really, more of an abstract concept, since no one actually invested that amount. Natalie invested 3 of them, etc.

26,047.17 / 3 = 8,682.39
26,047.17 * 0.33 = 8,595.57

Let's be honest about exactly what it is we are calculating.

You reported that you rounded 1/3 to 0.33 and then multiplied. This can be risky, but it isn't what you did.
What you actually did was divide by three and then round. This is the better way to go about it unless you are REQUIRED to round the factor first.