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epflynn, I think what they are trying to explain is that a 50/50 mix is like a 1/2 cup of varnish mixed in with a 1/2 cup of thinner. Think of 50/50 as two equal parts. One squirt of varnish to one squirt of thinner.

A 75% thinner to 25% varnish would be like 3/4 cup of thinner to 1/4 cup of varnish.

I hope this helps.