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Q.

A farmer has 100 sheep each weighing 300 pounds. It costs Rs 0.50 a day to keep  one sheep. The sheep gain weight at 10 pounds a day. They sell today for Rs 0.75 a pound, but the price is falling by Rs 0.01 a day. How many days should the farmer wait to sell his sheep in order to maximize his profit? 

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answer is 20.

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Detailed Solution

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Hint:  f(x)=100(300+10x)(0.750.01x)50x   is to be maximized

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A farmer has 100 sheep each weighing 300 pounds. It costs Rs 0.50 a day to keep  one sheep. The sheep gain weight at 10 pounds a day. They sell today for Rs 0.75 a pound, but the price is falling by Rs 0.01 a day. How many days should the farmer wait to sell his sheep in order to maximize his profit?