A, B, and C invest in a business in the ratio 1:2:3. If the total profit is $60,

A, B, and C invest in a business in the ratio 1:2:3. If the total profit is $60,000, how much does B receive?

A, B, and C invest in a business in the ratio 1:2:3. If the total profit is $60,000, how much does B receive?

Correct Answer: $20,000

Step 1: Identify the ratio of investments made by A, B, and C. The ratio is 1:2:3.
Step 2: Add the parts of the ratio together. 1 + 2 + 3 = 6 parts in total.
Step 3: Determine how many parts B has. B's part in the ratio is 2.
Step 4: Calculate B's share of the total profit. B's share = (B's parts / Total parts) * Total profit.
Step 5: Substitute the values into the formula: B's share = (2 / 6) * 60000.
Step 6: Simplify the calculation: (2 / 6) = 1/3, so B's share = 1/3 * 60000.
Step 7: Calculate B's share: 60000 / 3 = 20000.
Step 8: Conclude that B receives $20,000.

Ratio and Proportions – Understanding how to divide profits based on the ratio of investments.
Basic Arithmetic – Performing addition and multiplication to calculate shares.