making the plunge - name, location, form of business math quiz\nquestion 3 of 10: you are going into…

making the plunge - name, location, form of business math quiz\nquestion 3 of 10: you are going into business with 4 equal partners (not counting yourself). if in 6 years, the business is making a profit of $1,000,000, what is your share?\n\na) $180,000\nb) $190,000\nc) $200,000\nd) $210,000

making the plunge - name, location, form of business math quiz\nquestion 3 of 10: you are going into business with 4 equal partners (not counting yourself). if in 6 years, the business is making a profit of $1,000,000, what is your share?\n\na) $180,000\nb) $190,000\nc) $200,000\nd) $210,000

Answer

Explanation:

Step1: Calculate total number of partners

There are 4 partners not counting yourself, so total partners = 4 + 1=5.

Step2: Calculate your share

Profit is $1,000,000. Your share = $\frac{1000000}{5}=200000$.

Answer:

C. $200,000