Company C sells a line of 25
products with an average retail
price of rs 1200. if none of these
products sell for less than rs 420 and exactly 10 of the products sell for less than rs 1000, then what is the greatest possible selling price of the most expensive product?
Answers
Answer:
Rs 6800
Step-by-step explanation:
Company C sells a line of 25
products with an average retail
price of rs 1200. if none of these
products sell for less than rs 420 and exactly 10 of the products sell for less than rs 1000, then what is the greatest possible selling price of the most expensive product?
25 Products
Average Sell price = Rs 1200
Total Amount Received = 25 * 1200 = Rs 30000
let say 10 product sold for Rs 420
=> 10 * 420 = Rs 4200
& 14 Product sold at Rs 1000 = 14*1000 = Rs 14000
the greatest possible selling price of the most expensive product = 25000 - 4200 - 14000
= 25000 -18200
= Rs 6800
Answer:
11,800
Step-by-step explanation:
The question follows the general rule of - to maximize one quantity, minimize the others and to minimize one quantity, maximize the others.
Total cost of 25 products = 25 × 1200= 30000
Statement 1 : If none of these products sells for less than Rs 420 Statement 2 : exactly 10 of the products sell for less than Rs 1,000
Thus, the least price for all products will be Rs 420 because, if the price is 419, it will defy the condition in statement 1.
Thus,
Cost of 10 products = 10 × 420 = 4200
Cost of 14 products = 1000 × 14 = 14000
Thus, the total of 14 product costs = 4200+14000= 18200
Cost of the most expensive product = Total cost - total cost of 14 products
= 30000 - 18200
= 11800