A car rental agency has a budget of $1.8 million to purchase at most 100 new cars. The agency will purchase either compact cars at $15,000 each or luxury cars at $30,000 each. From past rental patterns, the agency decides to purchase at most 50 luxury cars and expects an annual profit of $8,000 per compact car and $13,500 per luxury car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints? Find the maximum profit. Round your profit to the nearest dollar and another answers - to the nearest whole number.
A)50 compact cars and 40 luxury cars for a maximum profit of $940,000
B)70 compact cars and 50 luxury cars for a maximum profit of $1,235,000
C)80 compact cars and 20 luxury cars for a maximum profit of $910,000
D)75 compact cars and 30 luxury cars for a maximum profit of $1,005,000
E)60 compact cars and 45 luxury cars for a maximum profit of $1,087,500

Question

A car rental agency has a budget of $1.8 million to purchase at most 100 new cars. The agency will purchase either compact cars at $15,000 each or luxury cars at $30,000 each. From past rental patterns, the agency decides to purchase at most 50 luxury cars and expects an annual profit of $8,000 per compact car and $13,500 per luxury car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints? Find the maximum profit. Round your profit to the nearest dollar and another answers - to the nearest whole number. ​
A)50 compact cars and 40 luxury cars for a maximum profit of $940,000
B)​70 compact cars and 50 luxury cars for a maximum profit of $1,235,000
C)​80 compact cars and 20 luxury cars for a maximum profit of $910,000
D)​75 compact cars and 30 luxury cars for a maximum profit of $1,005,000
E)60 compact cars and 45 luxury cars for a maximum profit of $1,087,500

Quizplus · Accepted Answer

The Answer of A car rental agency has a budget of $1.8 million to purchase at most 100 new cars. The agency will purchase either compact cars at $15,000 each or luxury cars at $30,000 each. From past rental patterns, the agency decides to purchase at most 50 luxury cars and expects an annual profit of $8,000 per compact car and $13,500 per luxury car. How many of each type of car should be purchased in order to obtain the maximum profit while satisfying budgetary and other planning constraints? Find the maximum profit. Round your profit to the nearest dollar and another answers - to the nearest whole number. ​
A)50 compact cars and 40 luxury cars for a maximum profit of $940,000
B)​70 compact cars and 50 luxury cars for a maximum profit of $1,235,000
C)​80 compact cars and 20 luxury cars for a maximum profit of $910,000
D)​75 compact cars and 30 luxury cars for a maximum profit of $1,005,000
E)60 compact cars and 45 luxury cars for a maximum profit of $1,087,500

A Car Rental Agency Has a Budget of $1