"of" means to multiply in math.
So 1/3 of 92500 is
$${\frac{{\mathtt{1}}}{{\mathtt{3}}}}{\mathtt{\,\times\,}}{\mathtt{92\,500}}$$
$${\frac{{\mathtt{92\,500}}}{{\mathtt{3}}}}$$
$${\mathtt{30\,833.333\: \!333\: \!333\: \!333\: \!333\: \!3}}$$
round down to
$30,833.33
While you came to the correct answer for the total I would like to help you with future math questions that "of" is actually denoting a devision question as it is asking for a portion "of" the whole.