The present worth of the sum of Rs. 5,830, due 9 months hence, is Rs. 5,500. Find the rate of interest.
Electro Corp. Co. manufactures two electrical products :Air conditioners and Fans. The assembly process for each is similar in which both require a certain amount of wiring and drilling. Each air conditioner takes 4 hours for wiring and 2 hours for drilling. Each fan also takes 2 hours for wiring and 1 hour for drilling. During the next production period, 240 hours of wiring time are available and upto 100 hours of drilling time may be used. Each air-conditioner assembled may be sold for Rs. 2,000 profit and each fan assembled may be sold for Rs. 1,000 profit. Formulate this problem as an L.P.P. in order to maximize the profit.
An agent charges 12% commission on the sales. What does he earn if the total sale amounts to Rs. 36,000? What does the seller get?