Arts High School

Ama and Kofi shared the profit earned from their contribution. Ama contribute 3,000,000.00 and the Total capital was 7,000,000.00. The profit earned was 1,743,000. (a) Find how much of the profit each person received. (b) Kofi lent out his share of the profit at a rate of 20% per annum for 2 years. Find the interest on his share. (c) what will be kofi total amount at the end of the 2 years.
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Answers

Answer 1

Ama and Kofi shared the profit earned from their contribution. Ama contribute 3,000,000.00 and the Total capital was 7,000,000.00. The profit earned was 1,743,000 then

a) Profit of each person

  Ama = $747,000

  Kofi = $996,000

b)  Interest on the share of the profit at a rate of 20% per annum for 2 years is Amount - Principle

  = $1,434,240 - 996,000

  = $438,240

c) kofi total amount at the end of the 2 years is $1,434,240.

Do we get activity on shares?

If you have decided it's time to start investing in the stock market, you might be questioning whether or not or no longer shares will earn you interest. In short, shares do not earn interest for their owners. While stock proprietors can generate returns from their investments, they do no longer come in the form of hobby payments.

Learn more about interest on shares here:

https://brainly.com/question/27958592#SPJ9

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