Fees breakdown

E.g ₦1,000,000 is to be divided among Mark, Sam, and Chima in the ratio of 50%, 30%, and 20%, respectively.

The Total charges are summed and deducted from the amount to be split.

The total split charges are calculated as follows:

• Mark’s fee on ₦500,000 (50% of ₦1,000,000) is ₦200
• Sam’s fee on ₦300,000 (30% of ₦1,000,000) is ₦150
• Chima’s fee on ₦200,000 (20% of ₦1,000,000) is ₦150
• Total Charges: ₦200 + ₦150 + ₦150 = ₦500

Each Recipient will Receive the following amount

Therefore, the amount to be shared is ₦999,500 (₦1,000,000 - ₦500). Each recipient's share is then calculated as follows:

• Mark: 50% x ₦999,500 = ₦499,750
• Sam: 30% x ₦999,500= ₦299,850
• Chima: 20% x ₦998,500 = ₦199,900