In: Finance
The U-Drive Rent-A-Truck company plans to spend $15 million on 310 new vehicles. Each commercial van will cost $35 comma 000, each small truck $70 comma 000, and each large truck $60 comma 000. Past experience shows that they need twice as many vans as small trucks. How many of each type of vehicle can they buy? They can buy nothing vans, nothing small trucks, and nothing large trucks.
Answer:
Let number of small truck purchased = x
Let number of large truck purchased = y
Number of vans purchased = 2 * Number of small truck
purchased
Number of vans purchased = 2 * x
Cost of van = $35,000
Cost of small truck = $70,000
Cost of large truck = $60,000
According to the question:
2x + x + y = 310 or 3x + y = 310 .... (1)
$35,000 * 2x + $70,000 * x + $60,000 * y = $15,000,000
$70,000 * x + $70,000 * x + $60,000 * y = $15,000,000
$140,000 * x + $60,000 * y = $15,000,000
7 * x + 3 * y =
750
.... (2)
Solving (1) and (2), we get
x = 90, y = 40
Number of van purchased = 2 * 90
Number of van purchased = 180
Number of small truck purchased = 90
Number of large truck purchased = 40