Question

Mr.Watts is a famous motivational speaker. He travels across the country by jet and gives an average of seven presentations a week. He gives his
speeches in auditoriums that are always full and hold an average of 1000 people each. He charges $40 per person at each of these speeches. His
average expenses for each presentation, including renting the auditorium, are about $20,000. The cost of meals, motels, jet travel, and support
personnel total $60,000 per week. How many weeks will Mr. Watts need to travel if he wants to earn $560,000 per year?​

Answer 1

Answer:

Mr watts needs 7 weeks

Step-by-step explanation:

The average expense per presentation =  $20,000

Since Mr. Watts can give about 7 presentations per week, hence the average expense per presentation for a week = $20000 × 7 = $140000

Also the  cost of meals, motels, jet travel, and support  personnel total $60,000 per week. Hence the total cost per week is:

Total cost = $140000 + $60000 = $200000

The revenue gotten is $40 per person and can take 1000 people per each presentation. Hence:

Revenue per week = $40 per person × 1000 people × 7 days = $280000

Let assume the number of weeks needed to earn $560000 be x. Hence:

280000x - 200000x = 560000

80000x = 560000

x = 7