Question

A bike rental company typically rents 30 bikes per day at a fee of $24 per rental. After analyzing past sales figures, the owner estimates that each $2 decrease in the rental fee will increase the number of daily rentals by 8. Determine which equation can be used to find the number of price drops, x, that will yield a revenue of $992.

Answer 1

Answer:

(30 + 8x)(24 - 2x) = 992

Step-by-step explanation:

A bike rental company typically rents 30 bikes per day at a fee of $24 per rental.

After analyzing past sales figures, the owner estimates that each $2 decrease in the rental fee will increase the number of daily rentals by 8.

Let there be the x number of price drops and there will be $2x amount of price drop and 8x more bikes will be rented.

So, the equation that can be used to find x that will yield a revenue of $992 is

(30 + 8x)(24 - 2x) = 992 (Answer)