Asked by Clareese Stenzel on Jul 31, 2024
Verified
Steve and Elizabeth decide to become partners in a children's cooking school.They need $80,000 for the franchise.They invest in a 3:4 ratio,respectively.About what percent of the business is owned by Elizabeth?
A) 34%
B) 43%
C) 57%
D) 80%
Franchise
A type of license that grants a franchisee access to a franchisor's proprietary knowledge, processes, and trademarks, to allow the party to sell a product or provide a service under the business's name.
- Determine partner investment proportions and their business ownership percentages.
Verified Answer
WP
Wilawan PalachumAug 01, 2024
Final Answer :
C
Explanation :
Elizabeth's share is in a 4:7 ratio (4 parts out of a total of 7 parts, since 3 parts are for Steve and 4 parts for Elizabeth). To find the percentage, divide Elizabeth's part by the total parts and multiply by 100. 47×100=57% \frac{4}{7} \times 100 = 57\%74×100=57% .
Learning Objectives
- Determine partner investment proportions and their business ownership percentages.
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