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Let's represent the shares of the traders with the variables x, y, and z. The ratio 4:3:12 can be simplified by dividing each number by their greatest common divisor, which is 1 in this case. Thus, the simplified ratio is 4:3:12.
If the smallest share is 24 bags, this corresponds to the value of 4 parts in the ratio. Therefore, we can set up the equation 4 parts = 24 bags.
Letting x represent the number of bags corresponding to one part, we have x = 24 bags รท 4 = 6 bags.
Since the value of one part is 6 bags, the shares of the traders are 4 parts (4 ร 6 bags), 3 parts (3 ร 6 bags), and 12 parts (12 ร 6 bags), respectively.
The shares are:
Trader 1: 4 ร 6 = <<4*6=24>>24 bags
Trader 2: 3 ร 6 = <<3*6=18>>18 bags
Trader 3: 12 ร 6 = <<12*6=72>>72 bags