MHB Calculating Boat Costs: Splitting 60/40 & Time Usage

[ger1]

Hi, I am struggling with a calculation.
A boat costs x to maintain and I and a friend decide to split the costs 60/40, where I put in 60% of the cost.
However, I will have the boat less than my friend, he will have it 3/8 of the time and I will have it 5/8 of the time.

So what is my actual cost on a weekly basis - it doesn't seem right to just multiply 60% by 5/8.

 

[HallsofIvy]

Hi, I am struggling with a calculation.
A boat costs x to maintain and I and a friend decide to split the costs 60/40, where I put in 60% of the cost.
However, I will have the boat less than my friend, he will have it 3/8 of the time and I will have it 5/8 of the time.

So what is my actual cost on a weekly basis - it doesn't seem right to just multiply 60% by 5/8.

You mean your friend will have the boat less than you since 3/8< 5/8. But if you have already agreed to pay 60% the "5/8 versus 3/8" is irrelevant. The cost to you is .6 times x.

(5/8= 0.625 or 62.5%. You should actually be paying 62.5% of the cost!)