SOLUTION: Mike(a) paid 42.27, Brian(b) paid 123.24, Pete(c) paid 72.63... total 238.14. How much does each person owe the other so that all of them paid the same amount to equal the total b

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Mike(a) paid 42.27, Brian(b) paid 123.24, Pete(c) paid 72.63... total 238.14. How much does each person owe the other so that all of them paid the same amount to equal the total b      Log On

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Question 513752: Mike(a) paid 42.27, Brian(b) paid 123.24, Pete(c) paid 72.63... total 238.14.
How much does each person owe the other so that all of them paid the same amount to equal the total bill 238.14??
Answer by umail08(87) About Me  (Show Source):
You can put this solution on YOUR website!
Equal payments = 238.14/3 = $79.38
Brian has overpaid and the other two have underpaid. So each one of those owe Brian as follows:
Mile: $79.38 – $42.27 = $37.11
Pete: $79.38 - $ 72.63 = $6.75
Since the total amount paid was $238.14 and each of you wanted to pay an equal share .. then each of you should have paid $79.38
Mike only paid $42.27 so he would owe $37.11 more to make his payment $79.38
Pete only paid $72.63 so he would owe $6.75 more to make his payment $79.38
Brian has paid $123.24 so he has overpaid by $43.86 ... so when Mike and Pete pay him $37.11 and $6.75 that would be the $43.86 he overpaid ..
Then all three persons would have paid $79.38 each