SOLUTION: Please help. the members of a flying club plan to share equally the cost of a $20,000 airplane. The members want to find five more people to join the club so that the cost per per

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Please help. the members of a flying club plan to share equally the cost of a $20,000 airplane. The members want to find five more people to join the club so that the cost per per      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!
Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!

   

Question 178713: Please help.
the members of a flying club plan to share equally the cost of a $20,000 airplane. The members want to find five more people to join the club so that the cost per person will decrease by $2000. How many members are currently in the club.
Answer by josmiceli(9661) About Me  (Show Source):
You can put this solution on YOUR website!
Let m= current number of members in club
The present cost/person is
20000%2Fm
If 5 more join,
20000%2F%28m%2B5%29 will be the cost /person
given:
20000%2F%28m%2B5%29+=+20000%2Fm+-+2000
Multiply both sides by m%2A%28m%2B5%29
20000m+=+20000%2A%28m%2B5%29+-+2000%2Am%2A%28m%2B5%29
20000m+=+20000m+%2B+100000+-+2000m%5E2+-+10000m
2000m%5E2+%2B+10000m+-+100000+=+0
Divide both sides by 2000
m%5E2+%2B+5m+-+50+=+0
%28m+%2B+10%29%28m+-+5%29+=+0
m+=+5
and
m+=+-10 (answer can't be negative)
There are currently 5 members in the club
check:
20000%2F%28m%2B5%29+=+20000%2Fm+-+2000
20000%2F%285%2B5%29+=+20000%2F5+-+2000
2000+=+4000+-+2000
2000+=+2000
OK