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

[kenny1999]

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

 

[DaveE]

His part is 3x your part, so you get $250 and he gets $750.

 

[symbolipoint]

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.