Calculate Individual Shares: Dividing $7000 with Percentages

Question

7000 $ was shared between three people.

The first person received 40% of the total, the second person received 15% of the total and the third person received the remainder.

How much money did they each receive?

Video Solution

Solution Steps

00:00 How much money did each one receive?
00:06 Convert percentages to fractions and multiply by the total amount
00:23 Break down into factors and reduce wherever possible
00:28 This is the amount that the first one received
00:37 Apply the same method in order to determine the amount for the second one
00:40 Convert percentages to fractions and multiply by the total amount
00:44 Break down into factors and reduce wherever possible
00:49 This is the amount that the second one received
00:58 In order to determine the third amount, proceed to subtract the two amounts from the total
01:14 This is the solution

Step-by-Step Solution

To solve this problem, we'll follow these steps:

  • Step 1: Determine how much the first person receives by calculating 40% of 7000.</li><li>Step2:Determinehowmuchthesecondpersonreceivesbycalculating157000.</li> <li>Step 2: Determine how much the second person receives by calculating 15% of 7000.
  • Step 3: Calculate the amount the third person receives by finding the remainder after the first two allocations.

Let's proceed with each step:
Step 1: Calculate 40% of 7000. The formula to use is:

\( \text{Amount} = \frac{40}{100} \times 7000 = 2800

Thus, the first person receives 2800</strong>.</p><p><strong>Step2:</strong>Calculate152800</strong>.</p> <p><strong>Step 2:</strong> Calculate 15% of 7000. Using the same formula:

Amount=15100×7000=1050 \text{Amount} = \frac{15}{100} \times 7000 = 1050

Therefore, the second person receives 1050.

Step 3: Calculate the remaining amount for the third person:

\( \text{Remainder} = 7000 - (2800 + 1050) = 3150

This means the third person receives 3150</strong>.</p><p>Toconfirm,thetotal3150</strong>.</p> <p>To confirm, the total 7000 is distributed correctly as 2800+1050+3150=70002800 + 1050 + 3150 = 7000.

Thus, the amount received by each person is:

  • The first person received 2800.</li><li>Thesecondpersonreceived2800.</li> <li>The second person received 1050.
  • The third person received $3150.

Therefore, the correct solution is choice #3.

Answer

The first person received 2800 dollars: the second person received 1050 dollars and the third person received 3150 dollars.

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