Marketing MATH MONDAY 10.22.18.

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Presentation transcript:

Marketing MATH MONDAY 10.22.18

Marketing Math Monday 1. Mary buys a car from a mean salesman who charges her 12% over the original price of a $15,000 car. Luke buys the same car from a much nicer salesman who gives him an 8% discount off of the original price. How much more does Mary spend on the car than Luke does?

Marketing Math Monday Correct answer: $3000 Explanation: Correct answer: $3000 Explanation: 12% of 15,000 is 0.12 * 15,000 = 1800. 8% of 15,000 is 0.08 * 15,000 = 1200; therefore in total, Mary spent 1800 + 1200 = $3000 more.

Marketing Math Monday 2. Manufacturer X has a base monthly operating cost of $30,000. It makes only one product, which costs $5 per piece in addition to the base operational costs for the plant. These products are each sold for $15 a piece. How many products must the company sell in order to break even in any given month?

Marketing Math Monday Correct answer: 3,000 Explanation: Begin by translating your problem into an equation. What we want to ascertain is the situation when the profit equals exactly 0. The profit and loss for a given month can be summarized by the following equation: (Total product revenue) - (Base operating costs) - (Individual costs for products) = 0 Given our data, we can rewrite this: 15 * x - 30,000 - 5 * x = 0 Combine like terms: 10 * x - 30,000 = 0 Isolate x: 10 * x = 30,000; x = 3,000. Therefore, the manufacturer must sell at least 3,000 items per month in order to "break even."