7) D

Profit gained from the job = £780 – £240 = £540
This figure is shared equally = £540/2 = £270

Therefore Bill, gets £270 and Alf gets £270. However, Bill must also pay Alf the price of the material which is £240.
Hence, Bill owes Alf = £270 + £240 = £510, which is option D.

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