SOLUTION: Cassy Finance Company has a total of N$20 million earmarked for home loans and automobile loans.
On the average, home loans will have a 10% rate of return on the loans given out
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Question 1196498: Cassy Finance Company has a total of N$20 million earmarked for home loans and automobile loans.
On the average, home loans will have a 10% rate of return on the loans given out while automobile
loans will yield a 12% rate of return on the loans extended. Management has also stipulated that the
total amount of home loans should be atleast four times the total amount of automobile loans. Use
the graphical method to determine the total amount of loans the company should extend to each of
the two categories of customers in order to maximise the rate of return on the loans extended.
(15 marks)
2.3 A fruit juice company makes two special drinks by blending apple and pineapple juices. The first drink
uses 30% apple juice and 70% pineapple juice, while the second drink uses 60% apple juice and 40%
pineapple juice. There are 1000 liters of apple juice and 1500 liters of pineapple juice available. If the
profit for the first drink is N$.60 per liter and that for the second drink is N$.50, use the simplex
method to find the number of liters of each drink that should be produced in order to maximize the
profit.
Answer by ikleyn(52797) (Show Source): You can put this solution on YOUR website!
.
I solved first problem at this forum one or two weeks ago.
See my solution under this link
https://www.algebra.com/algebra/homework/Percentage-and-ratio-word-problems/Percentage-and-ratio-word-problems.faq.question.1196250.html
Do not pack more than one problem per post.
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