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According to a financial analyst, if company C sets the unit selling
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Updated on: 07 Oct 2018, 02:24
Updated on: 07 Oct 2018, 02:24
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According to a financial analyst, if company C sets the unit selling price of its product at X dollars, then its monthly profit P in dollars is given by the formula P = 1000(4x-x^2-2). According to this formula at what amount should company C set the unit selling price of its product so that its monthly profit is $2000?
A. $1
B. $2
C. $3
D. $4
E. $6
A. $1
B. $2
C. $3
D. $4
E. $6
Intern
Joined: 15 Jan 2014
Posts: 21
Location: India
Concentration: Technology, Strategy
Schools: Haas '19
GMAT 1: 650 Q49 V30
GPA: 2.5
WE:Information Technology (Consulting)
Re: According to a financial analyst, if company C sets the unit selling
[#permalink]
06 Oct 2018, 13:38
06 Oct 2018, 13:38
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Given profit \(P = 1000(4x-x^2-2)\)
We need to find \(x\) so that \(P =2000\)
\(2000 = 1000(4x-x^2-2)\)
\(2=(4x-x^2-2)\)
\(4=x(4-x)\)
Option B: \(X= 2\) satisfies the equation.
Please +1 Kudos if you liked my post
We need to find \(x\) so that \(P =2000\)
\(2000 = 1000(4x-x^2-2)\)
\(2=(4x-x^2-2)\)
\(4=x(4-x)\)
Option B: \(X= 2\) satisfies the equation.
Please +1 Kudos if you liked my post
GMAT Club Legend
Joined: 03 Oct 2013
Affiliations: CrackVerbal
Posts: 4950
Location: India
Re: According to a financial analyst, if company C sets the unit selling
[#permalink]
26 Sep 2020, 20:59
26 Sep 2020, 20:59
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Given the profit equation = \(1000(4x - x^2 - 2)\)
Need to find the value of the Selling Price (x), so that the profit is 2000
Method 1:
Solve \(1000(4x - x^2 - 2) = 2000\). We get \(4x - x^2 - 2 = 2\) or \(x^2 - 4x - 4 = 0\)
\(x^2 - 4x - 4 = 0 = (x - 2)^2\). Therefore x = 2
Method 2:
Substitute the options in \(1000(4x - x^2 - 2)\)
Option 1: x = 1, \(P = 1000(4*1 - 1^2 - 2) = 1000 * 1 = 1000\). x = 1 is not our answer
Option 2: x = 12, \(P = 1000(4*2 - 2^2 - 2) = 1000 * 2 = 2000\). x = 2 is our answer
Option B
Arun Kumar
Need to find the value of the Selling Price (x), so that the profit is 2000
Method 1:
Solve \(1000(4x - x^2 - 2) = 2000\). We get \(4x - x^2 - 2 = 2\) or \(x^2 - 4x - 4 = 0\)
\(x^2 - 4x - 4 = 0 = (x - 2)^2\). Therefore x = 2
Method 2:
Substitute the options in \(1000(4x - x^2 - 2)\)
Option 1: x = 1, \(P = 1000(4*1 - 1^2 - 2) = 1000 * 1 = 1000\). x = 1 is not our answer
Option 2: x = 12, \(P = 1000(4*2 - 2^2 - 2) = 1000 * 2 = 2000\). x = 2 is our answer
Option B
Arun Kumar
Re: According to a financial analyst, if company C sets the unit selling
[#permalink]
26 Oct 2022, 03:33
26 Oct 2022, 03:33
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Re: According to a financial analyst, if company C sets the unit selling [#permalink]
26 Oct 2022, 03:33
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