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Formula to divide a lump sum by percentages











































A partner and I made an agreement with a contractor.

We would work as subcontractors.

For our portion of work, my partner and I get 17% of the profit from the job. This will be paid to us jointly as a lump sum.

Before we completed any work as subcontractors, my partner and I agreed to share our combined earnings as follows: my partner will get 4% and I will receive get 13%.

If the lump sum paid to us is $1000:

1. How do we compute the 4% (due my partner) and 13% (due to me)?

2. Is there a simple formula we can use for future jobs?

Comments for Formula to divide a lump sum by percentages

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Jul 29, 2013
Percentages
by: Staff


Answer

Part I

If the lump sum paid to us is $1000:

1. How do we compute the 4% (due my partner) and 13% (due to me)?

to partner:

(4/17)*1000 = 235.2941176470588, or $235.29


to self:

(13/17)*1000 = 764.7058823529412 , or $764.71


Proportional Division of Profits









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Jul 29, 2013
Percentages
by: Staff


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Part II


 Proportional Division of Profits - Calculation




2. Is there a simple formula we can use for future jobs?

yes:

to partner:


= [(% due partner)/(% from job)] * (Total $ received from job)


to self:

= [(% due you)/(% from job)] * (Total $ received from job)






Thanks for writing.

Staff
www.solving-math-problems.com


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