Question

Helen buys a fleet of taxix for her new business.
The bank lends her £3000000 and she uses this money to buy the taxis which cost £23400 each.
how many taxis can she buy?
how much of the loan will be left over?

Answer 1

Given:

The bank lends her £3000000 and she uses this money to buy the fleet of taxis which cost £23400 each for her new business

To find:

(i) How many taxis can she buy?

(ii) How much of the loan will be leftover?

Solution:

(i) Finding the no. of taxis she can buy:

The amount of money lent by the bank = £3000000

The cost of each taxi = £23400

∴ No. of taxis Helen can buy = $\frac{Total \:Amount}{Cost\:of \:each\:taxi} = \frac{3000000}{23400} = 128.20$ ≈ $\bold{128}$

Thus, $\boxed{\bold{Helen \:can\:buy\:\underline{128} \:taxis}}.$

(ii) Finding the amount leftover from the loan:

∵ The cost of each taxi = £23400

∴ The cost of 128 taxis will be = £23400 × 128 = £2995200

Now,

The leftover amount from the loan will be,

= [Total loan amount] - [Price of 128 taxis]

= £3000000 -  £2995200

= £4800

Thus, $\boxed{\bold{\underline{\£4800}\:will\:be\:leftover\:from\:the\:loan.}}$

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