Introduction to business math equations:
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis. Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability.(source : wikipedia)
In this article we are going to see some solved equations on business math and some practice questions on business math equations. Please express your views of this topic Compound Interest Equation by commenting on blog.
Solved questions on business math equations:
Question 1:
Total costs c(x) for producing one product is 1600 +1500x, and the entire profits can be represent by R(x) = 1600x - x2, what is the break even point and the maximum profit.
Solution:
Given, Total cost C(x) = 1600 + 1500x
Profit R(x) = 1600x - x2
At the break even points,
C(x) = R(x)
1600 + 1500x = 1600x - x2
x2 - 100x + 1600 = 0
It is in the quadratic equations form.
1600 (product)
/ \
-80 -20
\ /
-100 (sum)
x2- 100x + 1600 = 0
x2 - 80x -20x + 1600 = 0
x (x-80) - 20 (x - 80)=0
(x - 20)(x - 80) = 0
(x - 20) = 0
Add 20 on both sides, We get
x = 20
(x - 80) = 0,
Add 80 on both sides, We get
x = 80
x = 20, x = 80
Substitute x= 20 in c(x),
C (20) = 1600 + 1500 20 = 31600
Substitute x= 80 in c(x),
C (80) = 1600 + 1500 80 = 121600
The breakeven points are (20, 31600), (80, 121600)
The maximum profit R(80) = 1600(80) – (80)2
= 128000 – 6400
= 121600
The maximum profit is 121600.
Answer: The break even points are (20, 31600), (80, 121600)
The maximum profit is 121600.
Question 2:
John pays 125 dollar for his new dress includes the tax 10% . What is the original price of the new dress without tax?
Solution:
Given, Price of new dress with tax 10% is 125 dollar.
We need to find the original price.
Let us take the original price is x. We can form the equation as,
x + 10% x =125
x + 10x/100 = 125
x + x / 10 = 125
(10 x + x) / 10 = 125
Multiply by 10 on both sides,
11x = 1250
Divided by 11 on both sides,
x = (1250)/11
x = 113.63
Answer: The original price 113.63
Between, if you have problem on these topics Solving Absolute Value Equations, please browse expert math related websites for more help on Area of a Circle Equation .
Practice questions on business math equations:
Problems :
1. The price of fish tank is 55 dollar includes the tax 10% . What is the original price of the fish tank without tax?
2.A total cost of the product is 500 + 90x and total profit for that product is 150x – x². What is the break even point of the product
Answer:
1. 50
2.(50, 5000), (10, 1400)
Business mathematics is mathematics used by commercial enterprises to record and manage business operations. Commercial organizations use mathematics in accounting, inventory management, marketing, sales forecasting, and financial analysis. Mathematics typically used in commerce includes elementary arithmetic, elementary algebra, statistics and probability.(source : wikipedia)
In this article we are going to see some solved equations on business math and some practice questions on business math equations. Please express your views of this topic Compound Interest Equation by commenting on blog.
Solved questions on business math equations:
Question 1:
Total costs c(x) for producing one product is 1600 +1500x, and the entire profits can be represent by R(x) = 1600x - x2, what is the break even point and the maximum profit.
Solution:
Given, Total cost C(x) = 1600 + 1500x
Profit R(x) = 1600x - x2
At the break even points,
C(x) = R(x)
1600 + 1500x = 1600x - x2
x2 - 100x + 1600 = 0
It is in the quadratic equations form.
1600 (product)
/ \
-80 -20
\ /
-100 (sum)
x2- 100x + 1600 = 0
x2 - 80x -20x + 1600 = 0
x (x-80) - 20 (x - 80)=0
(x - 20)(x - 80) = 0
(x - 20) = 0
Add 20 on both sides, We get
x = 20
(x - 80) = 0,
Add 80 on both sides, We get
x = 80
x = 20, x = 80
Substitute x= 20 in c(x),
C (20) = 1600 + 1500 20 = 31600
Substitute x= 80 in c(x),
C (80) = 1600 + 1500 80 = 121600
The breakeven points are (20, 31600), (80, 121600)
The maximum profit R(80) = 1600(80) – (80)2
= 128000 – 6400
= 121600
The maximum profit is 121600.
Answer: The break even points are (20, 31600), (80, 121600)
The maximum profit is 121600.
Question 2:
John pays 125 dollar for his new dress includes the tax 10% . What is the original price of the new dress without tax?
Solution:
Given, Price of new dress with tax 10% is 125 dollar.
We need to find the original price.
Let us take the original price is x. We can form the equation as,
x + 10% x =125
x + 10x/100 = 125
x + x / 10 = 125
(10 x + x) / 10 = 125
Multiply by 10 on both sides,
11x = 1250
Divided by 11 on both sides,
x = (1250)/11
x = 113.63
Answer: The original price 113.63
Between, if you have problem on these topics Solving Absolute Value Equations, please browse expert math related websites for more help on Area of a Circle Equation .
Practice questions on business math equations:
Problems :
1. The price of fish tank is 55 dollar includes the tax 10% . What is the original price of the fish tank without tax?
2.A total cost of the product is 500 + 90x and total profit for that product is 150x – x². What is the break even point of the product
Answer:
1. 50
2.(50, 5000), (10, 1400)
No comments:
Post a Comment