Jaiswal plans a small business by starting a mini travels. So he purchased a 40-seater bus. He started his services on route number 2 (from Dwaraka Vilas to Nawab Palace of length 50 km). His profit (p) from the bus depends on the number of passengers, over a certain minimum number of passengers ‘n’ and the distance travelled by bus. His profit is Rs.3600 with 29 passengers in the bus for a journey of 42 km and Rs. 6300 with 36 passengers in the bus for a journey of 42 km.What is the minimum number of passengers that are required so that he will not suffer any loss?Marks : 2Negative Marks : 0Answer here12201815
Question
Jaiswal plans a small business by starting a mini travels. So he purchased a 40-seater bus. He started his services on route number 2 (from Dwaraka Vilas to Nawab Palace of length 50 km). His profit (p) from the bus depends on the number of passengers, over a certain minimum number of passengers ‘n’ and the distance travelled by bus. His profit is Rs.3600 with 29 passengers in the bus for a journey of 42 km and Rs. 6300 with 36 passengers in the bus for a journey of 42 km.What is the minimum number of passengers that are required so that he will not suffer any loss?Marks : 2Negative Marks : 0Answer here12201815
Solution
To find the minimum number of passengers required for Jaiswal to not suffer any loss, we need to first understand how his profit changes with the number of passengers.
From the information given, we know that:
- His profit is Rs. 3600 with 29 passengers for a journey of 42 km.
- His profit is Rs. 6300 with 36 passengers for the same journey of 42 km.
This means that for an increase of 7 passengers (from 29 to 36), his profit increases by Rs. 2700 (from Rs. 3600 to Rs. 6300).
Therefore, the profit per passenger for a 42 km journey is Rs. 2700 / 7 = Rs. 385.71.
Now, to find the minimum number of passengers required for Jaiswal to not suffer any loss, we need to find out how many passengers he needs to cover his costs.
Assuming that his costs are the same for each journey, we can calculate this by dividing his profit when he has 29 passengers (Rs. 3600) by the profit per passenger (Rs. 385.71).
So, the minimum number of passengers required for Jaiswal to not suffer any loss is Rs. 3600 / Rs. 385.71 = 9.34 passengers.
Since we can't have a fraction of a passenger, we round this up to the nearest whole number. Therefore, Jaiswal needs a minimum of 10 passengers to not suffer any loss.
Similar Questions
Cost per passenger km =0.25 Rs. Distance between two cities is 100 km. Profit expected is 50 % of fare income. What will be the bus fare?
What is the minimum total cost that the bus company can achieve over the next five years while meeting their requirements?1 point$3,400,000$3,520,000$3,370,000$3,420,000
Abhinav drives an average of 10,000 miles per year for business. To reduce the amount he pays on his taxes, Abhinav writes this off as a business expense. The government is offering $0.58 per mile driven for business this year. Abhinav would like to be able to write off a minimum of $6,000 from driving. Which of the following equations shows the minimum number of miles, m, he must drive, in addition to the 10,000 miles he already drives, to be able to do this?
Question No 56.A trader buys a consignment of items at the rate of Rs. 150 per item. He sells the first item for Rs.5, second one for Rs.10, third for Rs.15…and so on. If he wants to make an overall profit of at least 40%, what is the minimum number of goods he should sell?1) 412) 833) 924) 77
A small minibus carries 11 passengers and a large minibus carries 18 passengers. If thereare x small minibuses and y large minibuses, how many passengers can be carried in total?
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.