Solve Revenue Problem - Get Expert Help Now

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In summary, the conversation discusses a problem involving a reduction in duty and finding the proper equation for calculating revenue. The formula for revenue is given but cannot be used due to lack of information on quantity. The conversation also includes a formula for finding the new duty and solving for it.
  • #1
NotaMathPerson
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Again here is another problem I am having trouble with.
View attachment 5644For this one

I let $x=$ amount reduced from the original duty
$6-x=$ new amount after reduction.
And knowing the formula for revenue $R=Q*P$ but I can't use it because there is no given quantity.

Please kindly guide me on how to set up proper equation for this one.
Thanks a lot!
 

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  • #2
Initially, the revenue from the duty (in shillings) is given by:

\(\displaystyle R=0.06Q\)

When a new duty $D$ is imposed, we find:

\(\displaystyle \frac{2}{3}R=D\frac{3}{2}Q\)

Solving for $D$, we obtain:

\(\displaystyle D=\frac{4}{9}\cdot\frac{R}{Q}\)

Can you finish?
 

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