Question

A leading brokerage firm charges a 6% commission on gold purchases in amounts from` 500 to ` 3000. For purchases exceeding ` 3000, the firm charges 2% of the amount purchased plus ` 120. Let x denote the amount of gold purchased (in rupees) and let f (x) be the commission charges as a function of x .
i) Describe f (x) . What is the domain of f ?
ii) Find f (1000) and f (5000).

Answer 1

Answer on Question #84207 – Math – Algebra

A leading brokerage firm charges a 6% commission on gold purchases in amounts from 500 to 3000. For purchases exceeding 3000, the firm charges 2% of the amount purchased plus 120. Let $x$ denote the amount of gold purchased (in rupees) and let $f(x)$ be the commission charges as a function of $x$.

Question

i) Describe $f(x)$. What is the domain of $f(x)$?

Solution

$$x > 3000: f(x) = 0.02x + 120$$ $$500 \leq x \leq 3000: f(x) = 0.06x$$

The domain of $f(x)$ is $[500, \infty)$.

Question

ii) Find $f(1000)$ and $f(5000)$.

Solution

$$f(1000) = 0.06 \cdot 1000 = 60$$ $$f(5000) = 0.02 \cdot 5000 + 120 = 220.$$

Answer provided by https://www.AssignmentExpert.com