A housing contractor has subdivided a farm into 100 building lots. She has designed two types of homes for these lots: colonial and ranch style. A colonial requires $30,000 of capital and produces a profit of $2000 when sold. A ranch-style house requires $40,000 of capital and provides an $8000 profit. If the contractor has $3.4 million of capital on hand, how many houses of each type should she build for maximum profit?
A housing contractor has subdivided a farm into 100 building lots. She has designed two types of homes for these lots: colonial and ranch style. A colonial requires $30,000 of capital and produces a profit of $2000 when sold. A ranch-style house requires $40,000 of capital and provides an $8000 profit. If the contractor has $3.4 million of capital on hand, how many houses of each type should she build for maximum profit?
Elementary Algebra
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ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter5: Systems Of Linear Equations
Section5.2: Solve Systems Of Equations By Substitution
Problem 5.47TI: Geraldine has been offered positions by two insurance companies. The first company pays a salary of...
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A housing contractor has subdivided a farm into 100 building lots. She has designed two types of homes for these lots: colonial and ranch style. A colonial requires $30,000 of capital and produces a profit of $2000 when sold. A ranch-style house requires $40,000 of capital and provides an $8000 profit. If the contractor has $3.4 million of capital on hand, how many houses of each type should she build for maximum profit?
Transcribed Image Text:A housing contractor has subdivided a farm into 100 building lots. She has designed two types of homes for these lots: colonial and ranch style. A colonial requires $30,000 of capital and produces a
profit of $2000 when sold. A ranch-style house requires $40,000 of capital and provides an $8000 profit. If the contractor has $3.4 million of capital on hand, how many houses of each type should
she build for maximum profit?
colonials
ranches
Will any of the lots be left vacant?
O Yes
O No
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