Sandiago and Veera set up a partnership business on 1 January with invested capitals of £35,000 and £45,000 respectively. Sandiago received a salary of £1,050 per month. On 1 July they shared the remaining profits of £20,000 in proportion to their capital invested.
(a) Write the ratio of their investment in its simplest terms.
(b) Calculate how much each partner received in total for the first 6 months of trading.
At the start of the second year of trading, Kiku, from Japan, invested ¥5,500,000 (Japanese Yen) in the partnership at an exchange rate of
£1 = ¥200
(c) Giving your answer in its simplest terms, calculate the ratio of investments of the three partners in the second year of trading.
At the end of the second year of trading, Veera received £10,800 as her share of the profits.
(d) Calculate Sandiago's share of the profits at the end of the second year of trading.