Molecular dynamics simulations of binary colloidal monolayers, i.e., monolayers consisting of mixtures of two different particle sizes, are presented. In the simulations, the colloid particles are located at an oil-water interface and interact via an effective dipole-dipole potential. In particular, the influence of the particle ratio on the configurations of the binary monolayers is investigated for two different relative interaction strengths between the particles, and the pair correlation functions corresponding to the binary monolayers are calculated. The simulations show that the binary monolayers can only form two-dimensional crystals for certain particle ratios, for example, 2:1, 6:1, etc., while, for example, for a particle ratio of 7:1 the monolayers are found to be in a disordered, glassy state. The calculations also reveal that in analogy to the Wigner lattice the configurations are very sensitive to the relative interaction strength between the particles but not to the absolute magnitude of the interaction strength, even when particle size effects are taken into account. Consequently, it is argued that a comparison between the calculated configurations and actual binary particle monolayer systems could provide useful information on the relative interaction strength between large and small particles. Possible mechanisms giving rise to disparities in the interaction strength between large and small particles are described briefly.