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Odds of 3-5 indicate that your profit will be three-fifths of a dollar. In other words, for everyR$5 you bet you can winR$3 in profit. To determine profit, multiply the amount you bet by the fraction. If I spendR$15, then my profit for winning isR$9 (15 x 3/5).
To convert positive odds into percentages, divide 100 by the odds + 100 and multiply the result by 100. For odds of 300, divide 100 by 400 to get 0.25 and multiply that by 100 to get 25%. For negative odds, you divide the odds by the odds +100 and multiply by 100.