mock test question no 6

[Anagha venkatesan]

I'm getting the answer for the 6th question to be 7.5 while the correct answer is 9.

I have attached my solving method can you please tell me where I went wrong.

[subhajit POD]

Hi,

I think, you are maximizing the total revenue. But  you have to calculate the equation of the profit and then you have to calculate for maximizing the profit using that equation. 

Hope it clarifies your doubt. 

Best

Subhajit

[Ajay Kymar lolla]

Hi, 

You were almost right. The question asked was for max profit and not max revenue. The only mistake you made was , 5+x. For max profit 2+ x must be taken, as profit is 2 Rs . then will get x= 4 , and selling price = 5+4=9. 

[Samhita Kotamarthy]

Ajay, isn't max revenue and max profit same? 
Anagha got the equation of a curve that represents values of profit for different values of x. It has a max value at some x (where x is the increment in SP)..now the question asks for max 'SP' ..so after getting value of x .by formula -b/2a . Substitute in 5+x which is your max SP.. original SP+ increment x.

Regards

Samhita.

[Samridh Srivastava]

This was a bit tricky but I’ll tell you how it works.

If you go through qs in assignments you’ll notice that mostly qs r asking what’s the new realised profit that means when you put the new selling price how much profit you will make,Here  you hv been asked what should be the new sellling price not how much profit you will make.

So u just add x to 5 to get the new selling price.

If you r asked what will be the maximum revenue then put 4 in the equation  which will yield ₹48,000.

Like in the given qs you’ll hv to put the -b/2a in the equation to get the max profit.

[Pyla Rajesh]

Good 

But calculate profit not sp.

On Fri, 13 Nov, 2020, 13:56 Anagha venkatesan, <iamanagha...@gmail.com> wrote:

I'm getting the answer for the 6th question to be 7.5 while the correct answer is 9.

I have attached my solving method can you please tell me where I went wrong.

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[Anagha venkatesan]

Thanks a lot.