Jason is considering purchasing a new machine to make plastic silverware. The machine produces 1,000 pieces of silverware in two hours. One box contains 50 pieces of silverware and sells for $3.00.
If the machine costs $9,000, and runs for 24 hours a day, how many days will it take the machine to make enough silverware to pay for itself?
12000 pieces are made in 24 hours
12000 pieces divided into 50 pieces because that gives you how many boxes you will need
12000/50= 240 boxes
if one box sells at £3.00
Then 240 boxes X £3.00 = £720.00 pound per day the machine will make.
£9000/720.00= 12.5 Days this is how long the machine will take to pay for itself
The machine makes 12000 pieces per day. So, to pay for itself in x days, you need
12000/50*3.00*x = 9000
well worked but the question was tricky
Well, let's do the math.
If the machine produces 1,000 pieces of silverware in two hours, that means it can produce 12,000 pieces in 24 hours (since there are 24 hours in a day).
And since one box contains 50 pieces of silverware, that means the machine can produce 240 boxes in a day (12,000 divided by 50).
If each box sells for $3.00, then the machine can generate $720.00 in sales per day (240 boxes multiplied by $3.00).
So, to pay off the $9,000 cost of the machine, it would take 12.5 days ($9,000 divided by $720.00).
So, in about 12.5 days, Jason will be able to make enough silverware to pay for the machine. Hope that helps, and maybe he'll even have some spare forks and spoons to spare!
To find out how many days it will take for the machine to pay for itself, we need to calculate the number of boxes of silverware it can produce in 24 hours, and then divide the cost of the machine by the profit generated from selling those boxes.
First, let's calculate how many boxes of silverware the machine can produce in 24 hours. We know that the machine produces 1,000 pieces of silverware in two hours. So, in 24 hours, it will produce:
24 hours / 2 hours = 12 sets of 1,000 pieces
Since one box contains 50 pieces of silverware, the machine will produce:
12 sets * 1,000 pieces/set / 50 pieces/box = 240 boxes in 24 hours
Now, let's calculate the profit generated from selling these 240 boxes. Each box sells for $3.00, so the total profit is:
240 boxes * $3.00/box = $720.00
Finally, we can calculate how many days it will take for the machine to pay for itself. The cost of the machine is $9,000, so the number of days is:
$9,000 / $720.00/day = 12.5 days (rounded to the nearest whole day)
Therefore, it will take approximately 12.5 days for the machine to make enough silverware to pay for itself.