High School Understanding Ratio Basics to Splitting Costs with a 3:1 Ratio

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SUMMARY

The discussion clarifies the calculation of splitting costs using a 3:1 ratio. In this scenario, if the total price is $1000, the friend receives $750 while the other party receives $250. This division is based on the understanding that the total is divided into four parts, with three parts allocated to one individual and one part to the other. Therefore, the correct calculation is (3/4) * 1000 for the friend and (1/4) * 1000 for the other party.

PREREQUISITES
  • Understanding of basic fractions and ratios
  • Ability to perform simple arithmetic calculations
  • Familiarity with percentage calculations
  • Knowledge of cost-sharing concepts
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  • Research how to calculate ratios in financial agreements
  • Learn about different methods of cost-sharing in partnerships
  • Explore examples of ratio-based pricing models
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This discussion is beneficial for individuals involved in financial agreements, students learning about ratios, and anyone interested in understanding cost-sharing methods in various contexts.

kenny1999
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A friend of mine said he would share the price with me by 3:1 ratio.

I have left school for many years. I'd like to know, what does it mean? For example, he gets 3 and I get 1, and the price is $1000, how much will I get? Will I get 1000 x 1/3 or 1000 x 1/4
 
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His part is 3x your part, so you get $250 and he gets $750.
 
One portion of the price is 3 of four part and other portion of price is 1 of four parts. All four parts is the $1000.
This is one portion of the price is (3/4)1000=750 dollars and the other portion of the price is (1/4)1000=250 dollars.
 

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