Six friends are splitting the cost to rent a boat. If the total cost is $194.20, how much will each person pay? Round to the nearest cent.

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Six friends are splitting the cost to rent a boat. If the total cost is $194.20, how much will each person pay? Round to the nearest cent.

 

 

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How much will each person pay?

If total cost is $194.20, and it will be going to split between six friends, then the equation for cost per person will be: 

= Total Cost :- Total persons 

Therefore, cost per person will be: $194.20 divided by 6. i.e, 194.20 :- 6 = $32.37 

Therefore, per person cost will be $32.37 and two friends will have to pay $32.36. 

Therefore, the nearest cent will be each person paying $32.37, which will give us two extra cents, therefore either two friends can pay 1 cents less each, to give the exact amount of the boat. 

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