Task 3 (MLO 4 & 5)

(a) A furniture supply company sells a table and four chairs for a total price of €350. It has decided that the price of a table should be 6 times greater than the price of a single chair. 
(i) What should the price of one chair be? 
(ii) What should the price of one table be?   
(b) A graphic artist can design and produce a poster at a cost of €350. Copies can then be printed for 0.85c each. 
(i) What is the average cost per copy if 50 copies are printed?
(ii) What is the average cost if 200 copies are printed?            
(c)   A business purchases a machine at a cost of €700,000. It is expected to have a useful life of 10 years and the company’s policy is to depreciate machinery at a rate of 12% per annum using the reducing balance method. 
(i) Prepare a table showing the value of the machine at the end of each of the 10 years of its expected working life.  
(ii) Prepare a graph to illustrate the change in the machine’s value over the period. Use your graph to estimate the value of the machine after 5 years and 6 months of use. [Note: Your graph does not need to be included in your submission, just your estimated value].