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How
much did the store pay the manufacturer of the calculator?
Solution
First, lets define p to be the cost that the store paid for the calculator. The stores
markup on the calculator is 15%. This means that 0.15p has been added on to
the original price (p) to get the amount the calculator is being sold for. In other
words, we have the following equation
The store paid $68.26 for the calculator. Note that since we are dealing with
money we rounded the answer down to two decimal places.
2. A shirt is on sale for $15.00 and has been marked down 35%. How much
was the shirt being sold for before the sale?
Solution
Lets start with defining p to be the price of the shirt before the sale. It has been
marked down by 35%. This means that 0.35p has been subtracted off from the
original price. Therefore, the equation (and solution) is,
So, with rounding it looks like the shirt was originally sold for $23.08.
3. 1000 tickets were sold. Adult tickets cost $8.50, children's cost $4.50, and
a total of $7300 was collected. How many tickets of each kind were sold?
Again, we have let x and y answer the question. And again we must get two
equations out of the given information. Here they are:
In equation 2), we will make the coefficients into whole numbers by multiplying
both sides of the equation by 10:
1) x + y = 1000
We call the second equation 2' ("2 prime") to show that we obtained it from
equation 2).
4. Mr. Alfonso invested a sum of money at 4% simple interest and another sum
which is 100,000 more than the first sum at 5%. The annual income from the
two investments is 17,000 pesos. How much was Mr. Alfonsos investment at
each rate?
Solution :
Interest at 4% = .04X
Working equation :
4X + 5 ( X + 100,000) = 1,700,000
4X + 5X + 500,000 = 1,700,000
9X = 1,700,000 500,000
Solution :
Working Equation :