Question

A factory produces 500 smartphones per month. The cost of manufacturing each phone is $200. If the company wants to make a total profit of $10,000 or more on the 500 phones, which of the following inequalities will yield the sales price, Y, at which the factory must sell each phone in order to earn the desired profit?

Answer 1

Option B is correct

500Y - 100,000 ≥ 10,000

Step-by-step explanation

The factory produces 500 smartphones per month.

The cost of making one smartphone is $200.

The company wants to make a total profit of $10,000 or more on the 500 phones.

We need to find the inequality that gives the sale price, Y, that the factory must sell each phone.

Total profit = (Revenue from Sales) - (Cost price)

But for this question, we want the Total profit to be equal to or greater than $10,000

So, in mathematical terms,

(Revenue from Sales) - (Cost price) ≥ 10,000

Revenue from sales

= (Number of phones) (Sale price per phone)

= (500) (Y)

= 500Y

Cost Price

= (Number of phones) (Cost price of one phone)

= (500) (200)

= 100,000

(Revenue from Sales) - (Cost price) ≥ 10,000

500Y - 100,000 ≥ 10,000

Hope this Helps!!!