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A taxi driver makes $50 an hour, but pays $100 a day rent fo
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19 May 2018, 13:44
19 May 2018, 13:44
Expert Reply
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Question Stats:
81% (01:43) correct
18% (02:41) wrong based on 16 sessions
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A taxi driver makes $50 an hour, but pays $100 a day rent for his taxi and has other costs that amount to $0.50 per mile. If he works three 7-hour days and one 9-hour day and drives a total of 600 miles in one week, what is his profit?
(A) $700
(B) $800
(C) $1,100
(D) $1,200
(E) $1,500
(A) $700
(B) $800
(C) $1,100
(D) $1,200
(E) $1,500
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Joined: 10 Apr 2015
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Re: A taxi driver makes $50 an hour, but pays $100 a day rent fo
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27 Nov 2018, 07:17
27 Nov 2018, 07:17
1
sandy wrote:
A taxi driver makes $50 an hour, but pays $100 a day rent for his taxi and has other costs that amount to $0.50 per mile. If he works three 7-hour days and one 9-hour day and drives a total of 600 miles in one week, what is his profit?
(A) $700
(B) $800
(C) $1,100
(D) $1,200
(E) $1,500
(A) $700
(B) $800
(C) $1,100
(D) $1,200
(E) $1,500
REVENUE
Taxi driver makes $50 an hour. He works three 7-hour days and one 9-hour day
Total work time = (3)(7) + 9 = 30 hours
TOTAL revenue = (30 hours)($50/hour) = $1500
EXPENSES
Driver pays $100 a day rent for his taxi, and has other costs that amount to $0.50 per mile. He drives a total of 600 miles in one week
4 days of taxi rental = (4)($100) = $400
600 miles at $0.50 per mile = (600)(0.50) = $300
TOTAL expenses = $400 + $300 = $700
What is his profit?
Profit = revenue - expenses
= $1500 - $700
= $800
Answer: B
Cheers,
Brent
Re: A taxi driver makes $50 an hour, but pays $100 a day rent fo
[#permalink]
03 Dec 2018, 10:47
03 Dec 2018, 10:47
1
How do you know to assume that he only pays rent on each day he actually worked (total of 4 days for 400 dollars) vs 100 dollars a day for the week (7 days totaling 700 dollars)?
I got this right but only after realizing that there was no answer for 1050+450 - 300 for gas and -700 for each day of the week. So then I figured they meant 100 for each day he uses the taxi.
I got this right but only after realizing that there was no answer for 1050+450 - 300 for gas and -700 for each day of the week. So then I figured they meant 100 for each day he uses the taxi.
