The workout cost of a delay of 8 minutes is 7228 p.
<h3>What is Workout cost?</h3>
The strike price of an option is a fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.
Here, 1 liter fuel = 0.82 kg.
Aircraft use per minute 11.4 kg fuel = 11.4 / 0.82 liters = 13.90 liters.
Cost of 1 liter fuel = 65p.
Delay in reaching parking stand = 8 minutes
Fuel consumption in 8 minutes = 8 X 13.90 = 111.2 liters
Total workout cost of delay = Cost per liter X total consumed fuel
= 65 X 111.2
= 7228 p.
Thus, the workout cost of a delay of 8 minutes is 7228 p.
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