X and Y are in partnership with capital contributions of $50000 and $30000 respectively. The partnership agreement provides that profits are to be shared in proportion to capital
contributions and each partner is entitled to 10% interest on capital.
Profit for the year was $37000.
What was the total amount credited to Y’s current account at the end of the year?
A $10875 B $13875 C $18125 D $23125

The correct answer is B. $13,875.

Step-by-step explanation:

Since X and Y are in partnership with capital contributions of $ 50000 and $ 30000 respectively, and the partnership agreement provides that profits are to be shared in proportion to capital contributions and each partner is entitled to 10% interest on capital, and profit for the year was $ 37000, to determine what was the total amount credited to Y’s current account at the end of the year the following calculation must be performed:

50,000 + 30,000 = 80,000

80,000 = 100

30,000 = X

30,000 x 100 / 80,000 = X

37.5 = X

37,000 x 0.375 = X

13.875 = X

find the magnitude of the trig term  

csc

(

x

)

−

1

by taking the absolute value of the coefficient.

1

find the lower bound of the range.

tap for more

y

=

−

2

find the upper bound of the range.

tap for more

y

=

0

the range is  

y

≤

−

2

or  

y

≥

0

.

(

−

∞

,

−

2

]

∪

[

0

,

∞

)

{

y

|

y

≤

−

2

,

y

≥

0

}

step-by-step explanation:

-2 is the right