Question

Grandpa Ross won $4.5 million in a lottery. He wanted to give the money to his 4 children and 8 grandchildren. He decided that each of his children should receive a full share of the money, and each grandchild would receive a one over four share. After deducting $1.26 million in lawyers' fees and taxes, how much did Grandpa Ross give to each grandchild?

Answer 1

We suppose one children can receive x. Then grandson receive 1/4x. Total is 4x+8*1/4x=6x. After deducting the fees and taxes, the amount is 4.5-1.26=3.24 million. So x=3.24/6=0.54 million. So each grandchild get 0.54/4=0.135 million.