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January 1st, 2017, 12:53 PM   #1
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From: lincoln

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simultaneous equations

Help!!!!!

A penalty cause states that a contractor will forfeit a certain sum of money for each day that they are late completing the contract. If they are 6 days late, they only receive £5000; if they are 14 days late, they receive £3000.

A) Form a pair of simultaneous equations and find the amount of the daily forfeit using algebraic method.

B) Calculate the value of the original contract using algebraic method.


Help, please.

Last edited by skipjack; January 1st, 2017 at 02:53 PM.
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January 1st, 2017, 01:03 PM   #2
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Quote:
Originally Posted by roberts46 View Post
A penalty cause states that a contractor will forfeit a certain sum of money for each day that they are late completing the contract. If they are 6 days late, they only receive £5000; if they are 14 days late, they receive £3000.
What do you need an equation(s) for?

14 - 6 = 8 ; 5000 - 3000 = 2000 : 2000 / 8 = 250 per day
Thanks from roberts46

Last edited by skipjack; January 1st, 2017 at 02:53 PM.
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January 1st, 2017, 01:05 PM   #3
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many thanks .....

That's brilliant. How do I put that in algebraic method?

Last edited by skipjack; January 1st, 2017 at 01:17 PM.
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January 1st, 2017, 01:08 PM   #4
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Not brilliant...no need for algebraic method.
What grade are you in?
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January 1st, 2017, 01:17 PM   #5
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it needs to be in algebraic
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January 1st, 2017, 01:23 PM   #6
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Asked you what grade you're in...easier to help if we know that...
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January 1st, 2017, 01:26 PM   #7
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college
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January 1st, 2017, 01:39 PM   #8
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x = days late (1st instance)
y = days late (2nd instance)
6 and 14 in your case

a = amount (1st instance)
b = amount (2nd instance)
5000 and 3000 in your case

Daily forfeit formula:
(a - b) / (y - x)
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