What is a 60/40 Split Money Calculator?
60/40 Split Money Calculator is an online finance calculator that helps you to split your amount or bill between two parties using the 60:40 ratio.
There are many scenarios like a trip or dinner where we have to split the amount with our family and friends. In such scenarios, where one party have to pay 60% of the amount while the other party have to pay the remaining 40%, you can use this money split calculator to split the money precisely.
Let's try to understand this split using an example:
Suppose, John and Nick collaborated on a freelance project. John is a designer and contributed only 40% in the project. While, Nick who is a developer did more than half of the job and contributed 60% in the project.
Since, the contribution of both the parties are unequal, therefore the pay will be also unequal. They get $2400 from the client. Since, John did 40% of the work, therefore he will get the 40% of the revenue which is $960. While Nick will get the remaining 60% which is $1440.
Here are some of the use cases where you'll need a 60/40 money split calculator:
- Business Partnerships
- Family Dinners
- Trips
- Settlement Agreements
- Rent Sharing
In all such scenarios, you can use this 60/40 money split calculator to quickly and efficiently split the amount.
How to Use the 60/40 Split Money Calculator?
- Visit the 60/40 split money calculator page
- Enter the amount which you want to split
- Click on the 'Split' button to split the amount into 60:40 ratio
- Use the 'Reset' button to clear the contents of the table
How to Split the Money Using the 60:40 Ratio?
Splitting an amount between two parties using the 60:40 ratio is a very easy task. You should have the knowledge of percentage to split the amount.
First Person: 60% of the amount will be allocated to the first person.
First Person (60%) = 60% of the Total Amount = (60 x Amount)/100
Second Person: 40% of the amount will be allocated to the second person.
Second Person (40%) = 40% of the Total Amount = (40 x Amount)/100
Solved Example
Example: Oswald and Tyler bought an commercial building to earn passive income fron the rent. Oswald contributed 60% of the capital and Tyler contributed 40% of the capital. They rented the property for $4000 per month. Split the rent between the two parties using the 60/40 ratio.
Total Amount = $4000
Oswald Split Amount (60%)
Oswald (60%) = (60% x $4000) = $2400
Tyler Split Amount (40%)
Oswald (40%) = (40% x $4000) = $1600
Thus, Oswald will receive $2400 per month while Tyler will receive $1600 per month.