Funds money question

Question

1) Priscelle and Albee each contributed to the start-up of their business in the ratio of 3 : 5 respectively. If they are to allocate profits received based on their contributions, how much would each receive from the first year’s profits of $50,624?

2) Jimmy returned from a trip and had $200 USD that he wanted to exchange back to Canadian funds.

a) If $1.00 USD = $1.3325 CAD, what would be the amount of the exchange in Canadian funds?

b) If the bank charges a commission of 0.83% for this transaction, how much Canadian funds would Jimmy receive after the commission was charged?

Answer 1

1) 3x + 5x = 50624

2) a) CAD = 200(1.3325)

2) b) (1 - 0.83)(CAD)