You recently rented a Toyota Prius with a full tank of gas and 6570 miles on the odometer. After 4 days, you returned the car with 7205 miles on the odometer. If the rental agency charged you $98.76 for the rental and it took 12 gallons of gas to fill up the tank, determine the following rates.
To calculate the rates, we need to find the difference in mileage and the cost of gas.
Mileage difference: 7205 miles - 6570 miles = 635 miles
Rate for mileage: $98.76 / 635 miles ≈ $0.1557 per mile
Gas used: 6570 miles / 50 miles per gallon = 131.4 gallons
Gas cost: $98.76 - cost of the rental = $98.76 - ($0.1557 per mile * 635 miles) = $98.76 - $98.76 = $0
Rate for gas: $0 / 12 gallons = $0 per gallon (assuming the rental agency did not charge for the gas usage)
To determine the rates, we need to calculate the mileage rate and the gas rate.
1. Mileage Rate:
To calculate the mileage rate, we need to find the total miles driven during the rental period and divide it by the rental cost. The formula for the mileage rate is:
Mileage Rate = (Total Miles Driven / Rental Cost)
Total miles driven = Ending odometer reading - Starting odometer reading
= 7205 miles - 6570 miles
= 635 miles
Mileage Rate = (635 miles / $98.76)
= $0.0063 per mile
2. Gas Rate:
To calculate the gas rate, we need to find the cost per gallon of gas. The formula for the gas rate is:
Gas Rate = Fuel Cost / Fuel Quantity
Fuel Cost = Rental Cost - Gas Cost
= $98.76 - Gas Cost
We need to find the gas cost. To do this, we need to calculate the cost per gallon of gas and multiply it by the total gallons.
Cost per gallon = Rental Cost / Total gallons
= $98.76 / 12 gallons
= $8.23 per gallon
Gas Cost = Cost per gallon * Total gallons
= $8.23 * 12 gallons
= $98.76
Gas Rate = $98.76 / 12 gallons
= $8.23 per gallon
So, the rates are as follows:
- Mileage Rate: $0.0063 per mile
- Gas Rate: $8.23 per gallon
To determine the rates, we need to calculate the number of miles driven per day and the cost per mile.
First, let's calculate the total number of miles driven during the rental period:
Total miles driven = Final odometer reading - Initial odometer reading
Total miles driven = 7205 miles - 6570 miles
Total miles driven = 635 miles
Next, let's calculate the number of miles driven per day:
Miles driven per day = Total miles driven / Number of days
Miles driven per day = 635 miles / 4 days
Miles driven per day = 158.75 miles/day
Now, let's calculate the cost per mile:
Cost per mile = Total rental cost / Total miles driven
Cost per mile = $98.76 / 635 miles
Cost per mile ≈ $0.1556/mile
Therefore, the rate of miles driven per day is approximately 158.75 miles/day and the cost per mile is approximately $0.1556/mile.