An barrels manufacturer can produce up to 300 barrels per day. The profit made fromthe sale of these barrels can be modelled by the function P (x) = − 10x2 + 3500x −66000 where P(x) is the profit in rupees and x is the number of barrels made and sold.(i) When no barrels are produce what is a profit /loss?(ii) What is the break even point ? (Zero profit point is called break even)(iii) What is the profit/loss if 175 barrels are produced(iv) What is the profit/loss if 400 barrels are produced
Question
An barrels manufacturer can produce up to 300 barrels per day. The profit made fromthe sale of these barrels can be modelled by the function P (x) = − 10x2 + 3500x −66000 where P(x) is the profit in rupees and x is the number of barrels made and sold.(i) When no barrels are produce what is a profit /loss?(ii) What is the break even point ? (Zero profit point is called break even)(iii) What is the profit/loss if 175 barrels are produced(iv) What is the profit/loss if 400 barrels are produced
Solution
(i) When no barrels are produced, the profit/loss can be calculated by substituting x = 0 into the profit function P(x).
P(0) = -10(0)^2 + 3500(0) - 66000 P(0) = 0 - 0 - 66000 P(0) = -66000
Therefore, when no barrels are produced, there is a loss of 66,000 rupees.
(ii) The break-even point is the point at which the profit is zero. To find the break-even point, we need to solve the equation P(x) = 0.
-10x^2 + 3500x - 66000 = 0
To solve this quadratic equation, we can use the quadratic formula:
x = (-b ± √(b^2 - 4ac)) / (2a)
In this case, a = -10, b = 3500, and c = -66000. Plugging these values into the quadratic formula, we get:
x = (-3500 ± √(3500^2 - 4(-10)(-66000))) / (2(-10))
Simplifying further, we get:
x = (-3500 ± √(12250000 - 2640000)) / (-20) x = (-3500 ± √(9610000)) / (-20) x = (-3500 ± 3100) / (-20)
This gives us two possible solutions:
x1 = (-3500 + 3100) / (-20) = -400 / (-20) = 20 x2 = (-3500 - 3100) / (-20) = -6600 / (-20) = 330
Therefore, the break-even point is when 20 barrels are produced and sold, or when 330 barrels are produced and sold.
(iii) To find the profit/loss if 175 barrels are produced, we can substitute x = 175 into the profit function P(x).
P(175) = -10(175)^2 + 3500(175) - 66000 P(175) = -10(30625) + 612500 - 66000 P(175) = -306250 + 612500 - 66000 P(175) = 245250
Therefore, if 175 barrels are produced and sold, the profit is 245,250 rupees.
(iv) To find the profit/loss if 400 barrels are produced, we can substitute x = 400 into the profit function P(x).
P(400) = -10(400)^2 + 3500(400) - 66000 P(400) = -10(160000) + 1400000 - 66000 P(400) = -1600000 + 1400000 - 66000 P(400) = -260000
Therefore, if 400 barrels are produced and sold, the loss is 260,000 rupees.
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