ethan farhan and michael invested $427000 $671000 and $305000 in property respectively and they agreed to share the profit in the ratio of their investments. After few years, they sold the property for $1897500. Find the amount of profit each of them reviewed.
The total amount of investment is $427000 + $671000 + $305000 = $<<427000+671000+305000=1403000>>1403000
The ratio of their investments is: (427000/1403000, 671000/1403000, 305000/1403000) which simplifies to (0.305, 0.478, 0.217)
The total profit is $1897500 - $1403000 = $<<1897500-1403000=494500>>494500
Ethan's share of the profit is 0.305 x $494500 = $150947.50
Farhan's share of the profit is 0.478 x $494500 = $236211.50
Michael's share of the profit is 0.217 x $494500 = $107341.50
So, Ethan received $150947.50, Farhan received $236211.50, and Michael received $107341.50. Answer: \boxed{150947.50, 236211.50, 107341.50}.
To find the amount of profit each of them received, we need to calculate the ratio of their investments first.
The total investment is given as $427,000 + $671,000 + $305,000 = $1,403,000.
Ethan's investment ratio = $427,000 / $1,403,000
Farhan's investment ratio = $671,000 / $1,403,000
Michael's investment ratio = $305,000 / $1,403,000
To find the amount of profit each of them received, multiply their respective investment ratios by the total profit.
Ethan's profit = Ethan's investment ratio * total profit
Farhan's profit = Farhan's investment ratio * total profit
Michael's profit = Michael's investment ratio * total profit
Let's calculate:
Ethan's profit = ($427,000 / $1,403,000) * $1,897,500
Farhan's profit = ($671,000 / $1,403,000) * $1,897,500
Michael's profit = ($305,000 / $1,403,000) * $1,897,500
Calculating these values:
Ethan's profit = $427,000 * ($1,897,500 / $1,403,000)
Farhan's profit = $671,000 * ($1,897,500 / $1,403,000)
Michael's profit = $305,000 * ($1,897,500 / $1,403,000)
Ethan's profit = $576,545.97
Farhan's profit = $913,590.38
Michael's profit = $407,363.65
Therefore, the amount of profit each of them received is as follows:
Ethan received $576,545.97
Farhan received $913,590.38
Michael received $407,363.65