Enter the total cost and the number of people into the calculator to determine the individual cost for each person. This calculator helps to divide any bill or cost evenly among a group of people.
Cost Divider Formula
The following formula is used to calculate the individual cost when dividing a total cost by the number of people.
IC = TC / NP
Variables:
- IC is the individual cost ($)
- TC is the total cost ($)
- NP is the number of people
To calculate the individual cost, divide the total cost by the number of people.
What is Cost Division?
Cost division is a method of distributing the total cost of a shared expense among multiple individuals. This is commonly used in scenarios such as splitting a restaurant bill, sharing accommodation costs, or dividing expenses for a group event. It ensures that each person pays an equal share of the total cost.
How to Calculate Individual Cost?
The following steps outline how to calculate the individual cost.
- First, determine the total cost (TC) that needs to be divided.
- Next, determine the number of people (NP) sharing the cost.
- Use the formula from above = IC = TC / NP.
- Finally, calculate the individual cost (IC) for each person.
- After inserting the variables and calculating the result, check your answer with the calculator above.
Example Problem :
Use the following variables as an example problem to test your knowledge.
Total cost (TC) = $150
Number of people (NP) = 3
