  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

 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 -------------------------------------------------------------

 Jul 29, 2013 Percentages by: Staff ------------------------------------------------------------- Part II 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

 Aug 27, 2018 How to calculate some costing in percentage from the lump sum NEW by: Anonymous Article create some costing in percentage from the lump sum