2. A man formerly employed as chief mechanic of an automobile repair shop has saved P1,000,000.00 which are now invested in certain securities giving him an annual dividend of 15%. He now plans to invest this amount in his own repair shop. In his resent job, he is earning P25,000.00 a month, but he has to resign to run his own business. He will need the services of the following: 2 mechanics each earning P400.00 a day, and 8 helpers each earning P200.00 a day. These men will work on the average 300 days per year. His other expenses are the following: Rental Miscellaneous Sales tax P30,000.00 a month P25,000.00 a month 3% of gross income 2% Insurance The length of his lease is 5 years. If the average charge for each car repaired by his shop is P1,000.00. Determine the number of cars he must service in one year so that he will obtain a profit of at least 20% on his investment? Find: Number of cars he must service in one year

2. A man formerly employed as chief mechanic of an automobile repair shop has saved P1,000,000.00 which are now invested in certain securities giving him an annual dividend of 15%. He now plans to invest this amount in his own repair shop. In his resent job, he is earning P25,000.00 a month, but he has to resign to run his own business. He will need the services of the following: 2 mechanics each earning P400.00 a day, and 8 helpers each earning P200.00 a day. These men will work on the average 300 days per year. His other expenses are the following: Rental Miscellaneous Sales tax P30,000.00 a month P25,000.00 a month 3% of gross income 2% Insurance The length of his lease is 5 years. If the average charge for each car repaired by his shop is P1,000.00. Determine the number of cars he must service in one year so that he will obtain a profit of at least 20% on his investment? Find: Number of cars he must service in one year

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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