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An importer of bikes is plannig to increase the price of a

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Director
Joined: 07 Jun 2004
Posts: 627
Location: PA
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An importer of bikes is plannig to increase the price of a [#permalink]  04 Jul 2005, 06:33
An importer of bikes is plannig to increase the price of a bike by 1000\$.
At this new price 5 fewer bikes will be sold but total revenues will increase by 26000\$ to 594000\$. What is the number of bikes the manufactuer will seell at thhis new price.

Is there a simpler way to do this i got a quadratic equation.
Senior Manager
Joined: 17 Apr 2005
Posts: 377
Location: India
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Kudos [?]: 10 [0], given: 0

Re: Word problem [#permalink]  04 Jul 2005, 06:51
rxs0005 wrote:
An importer of bikes is plannig to increase the price of a bike by 1000\$.
At this new price 5 fewer bikes will be sold but total revenues will increase by 26000\$ to 594000\$. What is the number of bikes the manufactuer will seell at thhis new price.

Is there a simpler way to do this i got a quadratic equation.

66 bikes.

Got two equations bikes*price = 568 units
(bikes - 5)*(price + 1 ) = 594 units.

factorise 568 = 71 * 8.
use n = 71 and p = 8 in the second , it works.

Hence 66.

HMTG.
Director
Joined: 07 Jun 2004
Posts: 627
Location: PA
Followers: 2

Kudos [?]: 105 [0], given: 22

thats correct mate

thanks
Director
Joined: 03 Nov 2004
Posts: 870
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Kudos [?]: 5 [0], given: 0

Re: Word problem [#permalink]  04 Jul 2005, 10:03
HowManyToGo wrote:
66 bikes.

Got two equations bikes*price = 568 units
(bikes - 5)*(price + 1 ) = 594 units.

factorise 568 = 71 * 8.
use n = 71 and p = 8 in the second , it works.

Hence 66.

HMTG.

Can you be more explicit as to how you deduced bikes*price = 568 units from bikes*units=\$568000
Senior Manager
Joined: 17 Apr 2005
Posts: 377
Location: India
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Kudos [?]: 10 [0], given: 0

Re: Word problem [#permalink]  04 Jul 2005, 18:26
HowManyToGo wrote:
66 bikes.

Got two equations bikes*price = 568 units
(bikes - 5)*(price + 1 ) = 594 units.

factorise 568 = 71 * 8.
use n = 71 and p = 8 in the second , it works.

Hence 66.

HMTG.

Can you be more explicit as to how you deduced bikes*price = 568 units from bikes*units=\$568000

Substituted \$1000 as 1 unit.

HMTG.
Director
Joined: 03 Nov 2004
Posts: 870
Followers: 1

Kudos [?]: 5 [0], given: 0

Re: Word problem [#permalink]  05 Jul 2005, 01:30
HowManyToGo wrote:
HowManyToGo wrote:
66 bikes.

Got two equations bikes*price = 568 units
(bikes - 5)*(price + 1 ) = 594 units.

factorise 568 = 71 * 8.
use n = 71 and p = 8 in the second , it works.

Hence 66.

HMTG.

Can you be more explicit as to how you deduced bikes*price = 568 units from bikes*units=\$568000

Substituted \$1000 as 1 unit.

HMTG.

HMTG, Yes I did follow that, I was more interested in understanding why you did that, how did you know that 1 unit costs \$1000.
Senior Manager
Joined: 17 Apr 2005
Posts: 377
Location: India
Followers: 1

Kudos [?]: 10 [0], given: 0

Re: Word problem [#permalink]  05 Jul 2005, 01:36
HowManyToGo wrote:
HowManyToGo wrote:
66 bikes.

Got two equations bikes*price = 568 units
(bikes - 5)*(price + 1 ) = 594 units.

factorise 568 = 71 * 8.
use n = 71 and p = 8 in the second , it works.

Hence 66.

HMTG.

Can you be more explicit as to how you deduced bikes*price = 568 units from bikes*units=\$568000

Substituted \$1000 as 1 unit.

HMTG.

HMTG, Yes I did follow that, I was more interested in understanding why you did that, how did you know that 1 unit costs \$1000.

There is no unit which costs \$1000, just that I chose that as 1 unit.
Also I did it to reduce big numbers, you can cancel out 1000 on both sides of the original equations , and get it down to what I used.

HMTG.
Re: Word problem   [#permalink] 05 Jul 2005, 01:36
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