A firm has net working capital of $2,300 and current assets of $3,500. what is the current ratio?
1 answer:
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Answer:
Number of week day hours purchased is 5
Step-by-step explanation:
Total number of Parking hours purchased = 26 parking hours
Parking cost on weekdays = $2 per hour
Parking costs on weekends = $10 per hour
Total amount spent on parking = $220.
To Find:
Number of week days purchased = ?
Solution:
Let
The number of week days purchased be x
The number of weekends purchased be y
We know that the total hours purchased is 26
So,
x+y = 26
y = 26-x------------------------------------------------------(1)
Now the total cost is 220
(Total number of weekdays X cost per weekday ) +(Total number of weekends + cost per weekend) =220
Substituting the values
=> = 220
=>
=>2x + 260 -10x =220
=>260 -8x = 220
=>260 -220 =8x
=>40 = 8x
=>x=
x= 5-------------------------------------------(2)
Now substituting (2) in (1) we get
y= 26-5
y= 21