Question

Jerome is a co-owner of a small company and received 1/3 of the company's profits this year what were the company's overall profit if Jerome made a hundred and fifty thousand type the equation and solve

Answer 1

We will determine the company profits as follows:

$c=3j\Rightarrow c=3(150000)\Rightarrow c=450000$

So, the company profits is $450 000 a year.

***Explanation***

From the text we know that the profits of Jerome are 1/3 of the company's, that is:

$j=\frac{1}{3}c$

Here "j" represents Jerome's earnings and "c" represents the company's earnings.

*Since his earnings are represented in terms of the company we represent the company's earning in terms of Jeromes's earnings, that is:

$j=\frac{1}{3}c\Rightarrow c=3j$

Since we know that Jerome's earnings were $150 000, we replace and solve for "c":

$\Rightarrow c=3(150000)\Rightarrow c=450000$

So, the earning of the company is $450 000.