you divide by three
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One third of 60,000 is 20,000. To find one third of a number, you divide the number by 3. In this case, 60,000 divided by 3 equals 20,000.
60000/3 = $20000 you keep $40000 to divide up among 8 people 40000/8 = $5000 for each of the 8 people
one third is equivalent to two sixths two sixths take away one sixth is one sixth
10^5
1/8 of 60,000 is 7,500.