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Q: Another simple (?) math problem ( Answered 5 out of 5 stars,   1 Comment )
Question  
Subject: Another simple (?) math problem
Category: Business and Money > Accounting
Asked by: ddelphi-ga
List Price: $2.00
Posted: 20 Mar 2003 08:19 PST
Expires: 19 Apr 2003 09:19 PDT
Question ID: 178688
As stated in my last question, I’m a terrible mathematician.  I hang
my head in shame.  I know the answer to this is probably quite simple,
but when I run the numbers they don’t add up.  I’d ask the accounting
department, but, when I ask them a question, they always just roll
their eyes and treat me like I’m a simpleton, which I am not.  Really.
 Honest.

I have seven companies, listed below.  Each is responsible for a
portion of the total bill, which is $64490.00.  I need to know what
percentage of the total each company represents.  THEN, when I adjust
the total to $60000.00, what is the total each company is responsible
for.

Five stars and a modest tip to the person who gets me this information
as quickly as possible, as I need to draw up the contracts today. 
Please show your work so I can calculate this myself in the future.

Company              Amount
A                    7770.00
B                    4720.00
C                    3080.00
D                    3020.00
E                   36930.00
F                    5000.00
G                    3970.00
____________________________

Total               64490.00

Adjust the total to $60,000.00, and how much does each company owe?

Thanks - ddelphi
Answer  
Subject: Re: Another simple (?) math problem
Answered By: websearcher-ga on 20 Mar 2003 08:43 PST
Rated:5 out of 5 stars
 
Hi ddelphi:

First of all, to find the percentage of the total debt ($64490) that
Company X owes, you simply divide the amount owed by Company X by the
total amount and then multiply that by 100.

So, for example, Company A owes:

   7770
  ------- x 100 = .1205 x 100 = 12.05 %
   64490

So, doing the same for all the companies leads to:

Company     Amt. Owed       % Owed
A            7770.00         12.05 %
B            4720.00          7.32 % 
C            3080.00          4.78 % 
D            3020.00          4.68 %
E           36930.00         57.26 % 
F            5000.00          7.75 %
G            3970.00          6.16 %

These figures are rounded to two decimal places, but the total is
still 100%.


If we want to keep the percentages the same but change the total to
$60000, then we simply divide the percentage for Company X by 100,
then multiply that by $60000.

For example, Company A now owes:

  12.05
 ------- * 60000 = $7230.00
   100

So, doing the same for all companies leads to: 

Company     % Owed      New Amount Owed
A           12.05 %       $ 7230.00
B            7.32 %       $ 4392.00 
C            4.78 %       $ 2868.00
D            4.68 %       $ 2808.00
E           57.26 %       $34356.00 
F            7.75 %       $ 4650.00
G            6.16 %       $ 3696.00 
-----------------------------------
                          $60000.00


I hope this helps you out!

websearcher-ga


Search Strategy:

None. But you could always try: 

percentages tutorial
://www.google.ca/search?hl=en&ie=ISO-8859-1&q=percentages+tutorial&meta=
ddelphi-ga rated this answer:5 out of 5 stars and gave an additional tip of: $2.50
Huh.  I tried that exact thing, but kept getting the wrong answer.  I
mean, I *thought* that was the correct way to go about it, but my
numbers kept coming up all wrong.  Keep in mind that I was up all
night last night with a sick three year-old, but still, I should have
been able to do that simple math.

Once again websearcher, you have provided the answer in a clear and
elegant manner.  Thank you very much.

Comments  
Subject: Re: Another simple (?) math problem
From: websearcher-ga on 20 Mar 2003 08:54 PST
 
Thanks for the lovely comment and the generous tip, ddelphi. We all get tired. 

Hope your little one is feeling better. 

websearcher-ga

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