Question

Suppose that a total of $10 million will be allocated to the first three finishers in the springfield derby horse race in the ratio 7:2:1. The total amount received by the 2nd- and 3rd-place finishers in the race is

Answer 1

Answer:  The amounts received by the second and third finishers are $2000000 and $1000000 respectively.

Step-by-step explanation:  Given that a total of $10 million will be allocated to the first three finishers in the spring field derby horse race in the ratio 7 : 2 : 1.

We are to find the total amount received by the second and third finishers in the race.

Let the first, second and third finishers received an amount of 7x, 2x and x respectively.

Then, according to the given information, we have

$7x+2x+x=10000000\\\\ \Rightarrow 10x=10000000\\\\ \Rightarrow x=1000000$

Therefore, the amount received by the second finisher is

$2x=2\times 1000000=2000000$

and the amount received by the third finisher is

$x=1000000$.

Thus, the amounts received by the second and third finishers are $2000000 and $1000000 respectively.