Company C sells a line of 25 products with an average retail price of $1,200. If none of these products sells for less than $420, and exactly 10 of the products sell for less than $1,000, what is the greatest possible selling price of the most expensive product?
a) $2,600
b) $3,900
c) $7,800
d) $11,800
e) $18,200
please explain to me how to change this english to math!
thanks
please explain this one
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this is actually a minimum and maximum problem. the trick to this problem is to minimize all the other prices so you can only maximize 1 price.
1) calculate the total cost of 25 products
total cost= 25*1200= 30000
statement 1:If none of these products sells for less than $420,
statement 2: exactly 10 of the products sell for less than $1,000
ok, the least price for all products is 420 b/c if the price is 419, it will break the statement 1 condition.
10*420=4200 cost of 10 products
1000*14= 14000 cost of 14 products
total of 14 product costs= 4200+14000= 18200
to find the cost of the most expensive product= total cost (30000)- total cost of 14 product (18200)= 11800
Answer D
the cost of the second most expensive product is 1000 b/c you know that the other 15 products is equal to or more than 1000 according to statment 2.
1) calculate the total cost of 25 products
total cost= 25*1200= 30000
statement 1:If none of these products sells for less than $420,
statement 2: exactly 10 of the products sell for less than $1,000
ok, the least price for all products is 420 b/c if the price is 419, it will break the statement 1 condition.
10*420=4200 cost of 10 products
1000*14= 14000 cost of 14 products
total of 14 product costs= 4200+14000= 18200
to find the cost of the most expensive product= total cost (30000)- total cost of 14 product (18200)= 11800
Answer D
the cost of the second most expensive product is 1000 b/c you know that the other 15 products is equal to or more than 1000 according to statment 2.