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Chapter 2: Problem 74

Gas Prices Two local gas stations offer different prices for a gallon of regular gasoline. The Exxon Mobil station is currently selling their gas at \(\$ 3.99\) per gallon. The Getty station is currently selling their gas for \(\$ 3.85\) per gallon. Represent the net savings to you on a purchase of 15 gallons of regular gas if you buy gas from the Getty gas station.

Short Answer

Expert verified
You save $2.10 by purchasing 15 gallons from Getty instead of Exxon.

Step by step solution

01

Determine Getty's Total Cost

Calculate the total cost for purchasing 15 gallons of gasoline from the Getty station. Multiply the price per gallon by the number of gallons: \[\text{Getty's Total Cost} = 3.85 \times 15\]
02

Determine Exxon's Total Cost

Calculate the total cost for purchasing 15 gallons of gasoline from the Exxon Mobil station. Multiply the price per gallon by the number of gallons:\[\text{Exxon's Total Cost} = 3.99 \times 15\]
03

Calculate the Net Savings

Find the net savings by subtracting Getty's total cost from Exxon's total cost to determine how much you save:\[\text{Net Savings} = (3.99 \times 15) - (3.85 \times 15)\]

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

gas price comparison
Understanding gas price comparison is a valuable skill when you are trying to save money. Comparing prices from different stations allows you to determine where to purchase fuel for the best deal. In this case, the price per gallon at two local stations, Exxon Mobil and Getty, are compared.

Exxon Mobil's price is $3.99 per gallon, whereas Getty's price is $3.85 per gallon. Even though the difference is only 14 cents, it can add up when you purchase larger quantities. This scenario shows how small price differences can result in significant savings. It's these types of everyday decisions that teach the importance of smart financial choices.
  • Check multiple gas stations for price differences
  • Consider the amount of gas you typically purchase
  • Factor in the long-term savings
step-by-step problem solving
Solving math problems, especially when involving real-life scenarios like gas prices, becomes simpler when you break them down into step-by-step procedures. This methodical approach helps you tackle each part of the problem in a manageable way.

Step 1: Determine the total cost at Getty by multiplying the price per gallon ($3.85) by the number of gallons (15), giving you a cost of $57.75.

Step 2: Calculate the total cost at Exxon Mobil in a similar manner. Multiply $3.99 by 15 gallons to arrive at a cost of $59.85.

Step 3: Compute the net savings by subtracting the total cost at Getty from the total cost at Exxon Mobil. This provides the amount saved, which in this exercise is $2.10.
  • Break problems into smaller tasks
  • Solve each step individually
  • Check calculations at every stage
basic arithmetic operations
Basic arithmetic operations, such as addition, subtraction, multiplication, and division, are fundamental to solving everyday problems. In our example, we predominantly use multiplication and subtraction.

First, we'll use multiplication to find out how much money is spent at each station. By multiplying the price per gallon by the number of gallons, we determine the total cost at Exxon and Getty. The multiplication operation is indicated by the "\( \times \)" symbol.

Next, perform subtraction to find the savings. By subtracting Getty's total cost from Exxon's total, the net savings are revealed. The subtraction operation is indicated by the "-" symbol.
  • Understand the basic operations: addition, subtraction, multiplication, division
  • Apply these operations to real-world problems
  • Develop a strong command over simple mathematical calculations

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Most popular questions from this chapter

Profit and Loss You own a small business which provides computer support to homeowners who wish to create their own in-house computer network. In addition to setting up the network you also maintain and troubleshoot home PCs. Business gets off to a slow start. You record a profit of \(\$ 2,298\) during the first quarter of the year, a loss of \(\$ 2,854\) during the second quarter, a profit of \(\$ 3,057\) during the third quarter, and a profit of \(\$ 1,250\) for the last quarter of the year. Do you end the year with a net profit or a net loss? Represent that profit or loss as a positive or negative value.

Tracking Inventory By definition, inventory is the total amount of goods contained in a store or warehouse at any given time. It is helpful for store owners to know the number of items they have available for sale in order to accommodate customer demand. This table shows the beginning inventory on May 1 st and tracks the number of items bought and sold for one month. Determine the number of items in inventory at the end of the month. $$\begin{array}{|llll|} \hline \text { Dife } & \text { Uranstation } & \begin{array}{c} \text { What whires of } \\ \text { Thite sysiblity } \end{array} & \begin{array}{l} \text { Which of } \\ \text { thits sold } \end{array} \\ \hline \text { May 1 } & \text { Beginning Inventory } & 400 & \\\ \text { May 3 } & \text { Purchase } & 100 & \\ \text { May 8 } & \text { Sale } & & 700 \\ \text { May 15 } & \text { Purchase } & 600 & \\ \text { May 19 } & \text { Purchase } & 200 & \\ \text { May 25 } & \text { Sale } & &400 \\ \text { May 27 } & \text { Sale } && 300 \\ \text { May 31 } & \text { Ending Inventory } & & \\ \hline \end{array}$$

Perform the indicated operations. $$6^{2}$$

Add or subtract. $$10+15$$

Subtract. $$-50-60$$
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