Mission Company is preparing its annual profit plan. As part of its analysis of the profitability of individual products, the co
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17. (a) The formula with CP subject is
(b) The Cost Price of item without GST is $59.50
(c) The GST of item is $5.95
Step-by-step explanation:
Given formula is;
SP = 1.1 * CP
SP = Selling price
CP = Cost price
(a) Rearrange the formula to make CP the subject;
SP = 1.1 * CP
Dividing both sides by 1.1
The formula with CP subject is
(b) Use your formula from (a) to find the Cost Price of an item without GST if the selling price is $65.45
SP = $65.45
The Cost Price of item without GST is $59.50
(c) Calculate the amount of GST on an item whose selling price is $65.45.
GST = 10% of CP
GST =
GST = 0.1CP
From part (b)
CP = $59.50
GST = 0.1 * 59.50
GST = $5.95
The GST of item is $5.95
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Solving quadratic equations, it is found that he needs to charge:
1. He needs to charge $40 to break even.
2. He needs to charge $30 for a profit of $600.
<h3>What is a quadratic function?</h3>A quadratic function is given according to the following rule:
The solutions are:
In which:
The profit equation in this problem is:
P(x) = -3x² + 150x - 1200.
He breaks even when P(x) = 0, hence:
-3x² + 150x - 1200 = 0.
The coefficients are a = -3, b = 150, c = -1200, hence:
He needs to charge $40 to break even.
For a profit of $600, we have that P(x) = 600, hence:
-3x² + 150x - 1200 = 600.
-3x² + 150x - 1800 = 0.
The coefficients are a = -3, b = 150, c = -1800, hence:
He needs to charge $30 for a profit of $600.
More can be learned about quadratic equations at brainly.com/question/24737967
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