MATHEMATICS
JAMB 2022 - Question 15
Mathematics 2022 JAMB Past Questions - Question 15: Two brothers, Peter and Paul owned a business in which the ratio of shares is 5:3 respectively. Paul later sold 1/3 of his shares to Peter 15, 000 naira. Find the total value of the business.
A:
B:
C:
D:
Correct Answer
C
Explanation
Let's assume the total value of the business is V naira.Initially, the ratio of shares between Peter and Paul is 5:3, which means Peter owns 5/8 of the business and Paul owns 3/8 of the business.When Paul sells 1/3 of his shares to Peter, the new ratio of shares becomes (5 + 1/3):(3 - 1/3) = 16:8.Since the ratio of shares is directly proportional to the value of the business, we can set up the following equation:(5/8)V = 15000To find the total value of the business, we can solve for V:V = (15000 * 8) / 5V = 24000Therefore, the total value of the business is 24,000 naira.
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