Knowee
Questions
Features
Study Tools

There is a business that sells mobile phones. The business charges customers $700 for a new phone and $300 for a used phone. Assuming the business has sold 2 new phones and 1 used phone, how much total money (revenue) was generated?Choose 1 answer:$1,700$1,300$700$300

Question

There is a business that sells mobile phones. The business charges customers 700foranewphoneand700 for a new phone and 300 for a used phone. Assuming the business has sold 2 new phones and 1 used phone, how much total money (revenue) was generated?Choose 1 answer:1,7001,7001,300700700300

🧐 Not the exact question you are looking for?Go ask a question

Solution 1

The total revenue generated by the business can be calculated by adding the revenue from the new phones and the used phone.

Step 1: Calculate the revenue from the new phones The business sold 2 new phones at 700each.So,thetotalrevenuefromthenewphonesis2700 each. So, the total revenue from the new phones is 2 * 700 = $1400.

Step 2: Calculate the revenue from the used phone The business sold 1 used phone at 300.So,thetotalrevenuefromtheusedphoneis1300. So, the total revenue from the used phone is 1 * 300 = $300.

Step 3: Calculate the total revenue The total revenue is the sum of the revenue from the new phones and the used phone. So, the total revenue is 1400+1400 + 300 = $1700.

So, the correct answer is $1,700.

This problem has been solved

Solution 2

The total revenue generated by the business can be calculated by adding the revenue from the new phones and the used phone.

Step 1: Calculate the revenue from the new phones The business sold 2 new phones at 700each.So,thetotalrevenuefromnewphonesis2700 each. So, the total revenue from new phones is 2 * 700 = $1400.

Step 2: Calculate the revenue from the used phone The business sold 1 used phone at 300.So,thetotalrevenuefromtheusedphoneis1300. So, the total revenue from the used phone is 1 * 300 = $300.

Step 3: Calculate the total revenue The total revenue is the sum of the revenue from the new phones and the used phone. So, the total revenue is 1400(fromnewphones)+1400 (from new phones) + 300 (from used phone) = $1700.

So, the correct answer is $1,700.

This problem has been solved

Similar Questions

Amy bought a phone for $25000 and sold it for $32000. What is the profit amount that she gained?  Ops:   A. $7000    B. $4200    C. $6500    D. $8900

The cost for a company to produce x smartphones can be modeled by C(𝑥)=2𝑥+35C(x)=2x+35 and the company's total profit after selling x smartphones can be modeled by P(x) = -x2 + 120x - 435. Which function represents the company's revenue for selling smartphones? (Recall that profit equals revenue minus cost.)A.R(𝑥)=−𝑥2+118𝑥−470R(x)=−x 2 +118x−470B.R(𝑥)=−𝑥2+122𝑥+400R(x)=−x 2 +122x+400C.R(𝑥)=−𝑥2+122𝑥−470R(x)=−x 2 +122x−470D.R(𝑥)=−𝑥2+122𝑥−400R(x)=−x 2 +122x−400SUBMITarrow_backPREVIOUS

A shopkeeper bought two mobile phones in ₹ 8000. If he sells 1st phone at 20% profit and 2nd phone at 15% profit he earns certain profit. But if he sells 1st phone at 15% profit and 2nd phone at 20% profit he gets ₹ 100 more. Find the price of both the phones.₹ 3500, ₹ 4500₹ 3000, ₹ 5000₹ 4000, ₹ 4000₹ 2000, ₹ 6000

A certain company's main source of income is a mobile app.The company's annual profit (in millions of dollars) as a function of the app's price (in dollars) is modeled by What would be the company's profit if the app price is   dollars?

Multiple Choice QuestionOne worker can produce 7 units of output with a selling price of $2.60 each. Even though the firm competes in an imperfect market, business is so good that the manager hires a second worker who produces 6 units. To sell these six additional units the firm must lower the price to $2.40 each. Calculate the total revenue for the firm with two workers.Multiple choice question.$32.60$32.50$31.20$33.80

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.