Question

The owner of a used car lot wants to buy many cars at an auction as he can while not spending more than $20000. If he expects the average price to be $4000, how many would he expect to be able to buy?

Answer 1

Answer:

5

Step-by-step explanation:

Given that:

Total maximum amount that the owner wishes to spend = $20000

Average price of each car = $4000

To find:

How many cars that the owner can expect to buy?

Solution:

Total number of cars that the owner can expect to buy can be found by dividing the total money available with the owner with the average price of each car.

i.e.

$\text{Number of cars expected to be bought} = \dfrac{\text{Total money available with the owner}}{\text{Average Price of car}}$

We have the following values as given in the question statement:

Total money available = $20000

Average price of car = $4000

Therefore, the answer is:

$\text{Number of cars expected to be bought} = \dfrac{20000}{4000} = \bold{5}$

The owner can expect to buy 5 number of cars.