+237 Three business partners, Clinton, Murphy and Samson contributed $60,000, $85,000 and $105,000 respectively. They agreed to put 25% of the profit back into the business each year. They also agreed to put aside 40% of the remaining profit to cater for taxes and insurance. The rest of the profit would then be shared among the partners in the ratio of their contributions. At the end, of the first year the business realized a gross profit of $225,000. Calculate the amount of money Samson received more than Clinton at the end of the year.
+237 Clinton, Murphy and Samson contributed $60,000, $85,000 and $105,000
22500 (100% - 25%) (100% - 40%)
= 225000 (75%) (60%)
= 168750 (60%)
= $101250 amount shared by the 3
total contributions : 60000 + 85000 + 105000
= $250000
Samson : 101250 * (105000)/25000 = $42525
Clinton : 101250 * (60000)/250000 = $24300
difference : 42525 - 24300
= $18225
