How to work this out
- Thread starter KevinB
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Please show us what you have tried and exactly where you are stuck.
Please follow the rules of posting in this forum, as enunciated at:
Please share your work/thoughts about this problem.
Otis
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- Apr 22, 2015
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Hi Kevin. You've posted on the Arithmetic board, but my reply below assumes that you can use algebra. If my assumption is incorrect, then please let us know.
Profit is revenue less cost. They haven't provided any information about revenue, so we ought to consider the possibility that the answer may be found without using revenue variables or any of the given cost values.
Actually, none of the information printed before Q.36 is needed.
Hint: Assign variables to represent the four unknown profits, and then use the equalities provided in Q.36 to write a system of three equations.
Note: We often need four equations to solve a system containing four unknowns, but this exercise doesn't require us to find all four profits. We need to confirm only the labour profit. (I'd solved for land profit first, and then used that amount to find labour profit.)
If you try a system-of-equations approach but get stuck, then please show us your symbol definitions, system and steps. Otherwise, explain the method you've tried or thought about, or tell us what your class has been discussing. Thanks!
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