Question 154154This question is from textbook
: #41
Real estate
A land investment company purchased a parcel of land for $7200.After having sold all but 20 acres at a profit of $30 per acre over the original cost per acres, the company regained the entire cost of the parcel .How many acres were sold ?
#42
Margin of profit
The margin of profit of a company is the net income divided by the total sales. A company’s margin of profit increasing by 0.02 from last year. Last year the company sold its product at $3.00 each and had a net income of $4500.This year increasing the price of its product by $0.50 each, sold 2000 more, and had a net income of $7140.The company never has had a margin of profit greater than 0.15.How many of its product were sold last year and how many were sold this year?
i am working on these problems, i just need some clarification in regards to answers ,and the proper approach to solve them.thank you
This question is from textbook
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! A land investment company purchased a parcel of land for $7200.
After having sold all but 20 acres at a profit of $30 per acre over the original cost per acre, the company regained the entire cost of the parcel. How many acres were sold ?
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Let number of acres purchased be "x".
Original price per acre was 7200/x dollars.
EQUATION:
(x-20)[(7200/x)+30] = 7200
(x-20)[(7200+30x)/x] = 7200
(x-20)[7200+30x] = 7200x
7200x + 30x^2 - 20*7200 - 600x = 7200x
30x^2 -600x -20*7200 = 0
x^2 - 20x - 20*240=0
(x-80)(x+60) = 0
x = 80 acres
x-20 = 60 acres (# of acres sold)
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#42
Margin of profit
The margin of profit of a company is the net income divided by the total sales. A company’s margin of profit increasing by 0.02 from last year. Last year the company sold its product at $3.00 each and had a net income of $4500.This year increasing the price of its product by $0.50 each, sold 2000 more, and had a net income of $7140.The company never has had a margin of profit greater than 0.15.How many of its product were sold last year and how many were sold this
year?
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Last Year DATA:
margin = 4500/sales
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This Year DATA:
margin = 7140/6500
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EQUATION:
last year margin + 0.02 = this year sales
[4500/s] + 0.02 = 7140/6500
4500/s = 1.078462..
s = 4500/1.0784
s = 4172.61
last year sales = 4172
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Cheers,
Stan H.
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