Question

A student at St. F. X. decided to become his own employer by using his car as a taxi for the summer. It costs the student​ $693.00 to insure his car for the 4 months of summer. He spends​ $452.00 per month on gas. If he lives at home and has no other expenses for the 4 months of summer and charges an average of​ $7.00 per​ fare, how many fares will he have to get to be able to pay his tuition of​ $3280.00? Provide mathematical calculations​ and/or reasoning to support your answer.

Answer 1

Given :

Insurance cost , $693.00 .

Gas cost , $452.00 .

Average charge per fare , $7.00 .

Tuition fee , $3280.00 .

To Find :

The fare he have to get to pay his fee .

Solution :

Let , number of fair required is n .

Therefore , total profit is :

$Profit = earning - expenditure \\Profit = 7n - 693-452\\Profit = 7n-1145$

Now , to pay his fee this profit must be equal to his fee because he don't have other expenditure .

So ,

$7n-1145=3280\\\\7n=4425\\\\n=\dfrac{4425}{7}\\\\n=632.1$

But number of rides cannot be in decimal so minimum rides he must get is

632+1 = 633 .

Hence, this is the required solution .