Chile dwarfs South America: about 737,442 km² km² against 17,840,000 km² km². At true size Chile is about 24.2× larger — the whole of South America fits into Chile roughly 24 times.
The old Mercator map treated both about equally (1.5× vs 1× inflation), so at least their relative sizes were preserved — even if both were drawn at the wrong absolute scale.
Chile fits 24× into South America.