SOLUTION: A company has 3000 passengers daily paying a 25 cent fare. For each nickel increase in fare, the company projects it will lose 80 passengers. What fare increase will produce 994 in

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Question 98209: A company has 3000 passengers daily paying a 25 cent fare. For each nickel increase in fare, the company projects it will lose 80 passengers. What fare increase will produce 994 in daily revenue?
Answer by edjones(8007)   (Show Source): You can put this solution on YOUR website!
let x= a fare increase.
(3000-80x)*(.25+.05x)=994
-4x^2+130x+750=994
subtract 994 from each side. -4x^2+130x-244=0
Solved by pluggable solver: SOLVE quadratic equation with variable
Quadratic equation (in our case ) has the following solutons:



For these solutions to exist, the discriminant should not be a negative number.

First, we need to compute the discriminant : .

Discriminant d=12996 is greater than zero. That means that there are two solutions: .




Quadratic expression can be factored:

Again, the answer is: 2, 30.5. Here's your graph:

30.5 is extraneous because we can't have a 2.5 cent fare increase.
so x=2
2*.05=.10 Ans. fare increase of a dime
Check:
(3000-160)*(.25+.10)=994
2840*.35=994
Ed
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