How would you do this in excel? Problem 9: For a weekend DIY project, a homeowne

Question

How would you do this in excel?

Problem 9: For a weekend DIY project, a homeowner is installing tile in his bathroom and needs to rent a tile saw. Hardware Store A charges a flat fee of $15 plus a fee of $10 per hour. Hardware Store B charges a flat fee of $20 plus a fee of $8 per hour.   Each hardware store rents by the hour. So if the homeowner rents and returns the tile saw 8 hours and 20 minutes later, the homeowner would be charged for 9 hours. Under what conditions would it be less expensive to rent the tile saw from Hardware Store B?

When will the costs be equal?

Summary:  

When will the costs be equal?

Explanation / Answer

Here if the total hours be h, the based on given conditions,

total costA will be = $(15+10h)

and total cost B will be = $ (20+8h)

Now for break even pt, both costs will be equal to each other so

15+10h = 20 + 8h

or 10h-8h = 20-15= 5 or 2h = 5 or h= 2.5

So clearly break even pt. will be set at total 3 hours.

Also If cost B < cost A

then 20 +8h < 15+10h

or 5 <2h or h >2.5

so condition is that for more than 2.5 hours and les than 3 hours renting, cost B will be less than cost A.

Answer

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