SOLUTION: I want to determine unit prices for a 24 unit apt complex. 7 units have 1br, and 17 units have 2br. So I'll assume that each of the 17 units are worth double each of the 7 units.

Question 615084: I want to determine unit prices for a 24 unit apt complex. 7 units have 1br, and 17 units have 2br. So I'll assume that each of the 17 units are worth double each of the 7 units. So for example, if one of the 2 br units is worth $100,000 then one of the 1 br units is worth $50,000. Each class of unit is assumed to be worth the same as all of the other units in its class (1 or 2 br). The cost of all 24 units is $1,250,000. I was thinking the equation might be 17y +7x = 1,250,000 but then I immediately get stuck. I also tried 17(2x) + 7x but that doesn't seem right and I don't think I know how to solve it anyway (41x=1,250,000?... nah... I need two different numbers, not one.) Thank you in advance for your help.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
I want to determine unit prices for a 24 unit apt complex. 7 units have 1br, and 17 units have 2br. So I'll assume that each of the 17 units are worth double each of the 7 units. So for example, if one of the 2 br units is worth $100,000 then one of the 1 br units is worth $50,000. Each class of unit is assumed to be worth the same as all of the other units in its class (1 or 2 br). The cost of all 24 units is $1,250,000.
------
Let "x" be the value of a 1-bdrm unit
Then "2x" is the value of a 2-bdrm unit
----
Value Equation:
7x + 17(2x) = 1,250,000
7x + 34x = 1,250,000
41x = 1,250,000
x = $30,487.80 (value of a 1-bdrm unit)
2x = $60,975.61 (value of a 2-bdrm unit)
==========================================
Cheers,
Stan H.
=================

RELATED QUESTIONS
Hello, I don't know if this is a linear equation or not, sorry. My question is: I need (answered by richard1234)

"A store has been selling a popular game at the price of $40 per unit, and at this price... (answered by gonzo)

Determine how you could use a 5-unit jar and a 7-unit jar to measure and hold 8... (answered by nerdybill,Edwin McCravy)

the supply S of a commodity (in thousands of units), if the price is P dollars per unit,... (answered by stanbon)

Rental Demand:A real estate office handles an apartment complex with 50 units. When the... (answered by ankor@dixie-net.com)

A manager is trying to decide whether to purchase a certain part or to have it produced... (answered by ikleyn)

One apt. is directly above second apt. Downstairs resident calls his upstairs neighbor... (answered by scott8148)

Question: a rectangular garden is 2x+3 units long and 3x-5 unit wide. Find the area of... (answered by ortarico)

here ar my neices questions? I have also included my answers unsure if i did them right. (answered by mananth)