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Three business people Kamau, Gachui and Maina agreed to contribute Kshs. 1 210 000 to start a business. The ratio of Kamau’s contribution to Gachui’s contribution is 3 : 2 while that of Gachui to Maina is 1 : 3.
a) Determine the ratio of Kamau’s contribution to Maina’s contribution.
b) Determine the amount of money contributed by Kamau.
c) They agreed to share their profits as follows;
50% to be shared in the ratio of their contributions.
40% to be retained for the running of the business.
10% to be set aside for emergencies.
If their total profit for the year 2014 was sh.704 000, determine the
i. Amount of money retained for running the business.
ii. The amount of money set aside for emergencies.
iii. The amount of received by Gachui