The owner of a milk store finds that, he can sell 980 litres of milk each week at ₹ 14/litre and 1220 liters of milk each week at ₹ 16/litre. Assuming a linear relationship between selling price and demand, how many liters could he sell weekly at ₹ 17/litre?
Solution:
The relationship between selling price and demand is linear.
Assuming selling price per liter along the x-axis and demand along the y-axis, we have two points i.e., (14, 980) and (16, 1220) in the XY plane that satisfy the linear relationship between the selling price and demand.
The equation of line passing through points (14, 980) = (x1, y1) and (16, 1220) = (x2, y2) is found using,
y - 980 = (1220 - 980)/(16 - 4) (x - 14)
y - 980 = 240/2 (x - 14)
y - 980 = 120( x - 14)
y = 120( x - 14) + 980
When x =17,
y = 120(17 - 14) + 980
= 120 x 3 + 980
= 360 + 980
= 1340
Thus, the owner of the milk store could sell 1340 litres of milk weekly at ₹ 17/litre
NCERT Solutions Class 11 Maths Chapter 10 Exercise 10.2 Question 17
The owner of a milk store finds that, he can sell 980 liters of milk each week at ₹ 14/litre and 1220 liters of milk each week at ₹ 16/litre. Assuming a linear relationship between selling price and demand, how many liters could he sell weekly at ₹ 17/litre?
Summary:
Assuming a linear relationship between selling price and demand, the owner of the milk store can sell 1340 litres of milk weekly
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