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Three businessmen Mwanzia,Godana and Macharia decided to buy a bus.The marked price of the bus was shs.7,200,000.The dealers agreed that the three men could pay...

Three businessmen Mwanzia,Godana and Macharia decided to buy a bus. The marked price of the bus was shs.7,200,000.The dealers agreed that the three men could pay a deposit of 40% of the money and the rest to be paid within one year. Mwanzia,Godana and Macharia raised the deposit in the ratio 2:3:4 respectively. The balance plus 10% interest on the outstanding amount was to be paid to the dealer from the proceeds from the bus operations in the same ratio as the deposits. The businessmen agreed to jointly save 15% of the proceeds for maintenance. During the year the bus realized shs.8,044,000.
(a)How much of the deposit did Godana contribute?
(b)How much of the remaining amount did Macharia pay at the end of the year?
(c)After paying the remaining amount at the end of the year, how much money was Mwanzia left with?

Answers

Seline
(a)40/100x7200000=2880000
3/9x2880000=960000

(b)Macharia
60/100 x 7200000=4320000
110/100 x 4320000=4752000
Macharia paid 4/9 x 4752000
=shs.2112000

(c)paid 2/9x4752000=1056000
got 2/9 x 6837400=1519422
1056000-1519422
=shs.46342.22
Belan answered the question on February 25, 2019 at 09:48

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