The way to work out how much each person gets is to find out how much one part is worth.
We can do this by adding the ratio (1:2) which gives us 3.
Divide £120 by 3 parts and you get £40 as one part.
Because the ratio is one part : two parts, Matt gets £40 and Cat gets £80.
Step-by-step explanation:

Area as a function of length can be written as
f(l) = l^2
And volume of cube can be expressed as a function of side s as,
f(s) = s^3