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If a company sells 500 units of a product at a price of $20 each, what is the to

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Question: If a company sells 500 units of a product at a price of $20 each, what is the total revenue?

Options:

  1. $10,000
  2. $5,000
  3. $15,000
  4. $20,000

Correct Answer: $10,000

Solution: 

Total Revenue = Price per unit x Number of units sold = $20 x 500 = $10,000.

If a company sells 500 units of a product at a price of $20 each, what is the to

Practice Questions

Q1
If a company sells 500 units of a product at a price of $20 each, what is the total revenue?
  1. $10,000
  2. $5,000
  3. $15,000
  4. $20,000

Questions & Step-by-Step Solutions

If a company sells 500 units of a product at a price of $20 each, what is the total revenue?
  • Step 1: Identify the price per unit. In this case, the price is $20.
  • Step 2: Identify the number of units sold. Here, the number of units is 500.
  • Step 3: Use the formula for total revenue, which is Total Revenue = Price per unit x Number of units sold.
  • Step 4: Substitute the values into the formula: Total Revenue = $20 x 500.
  • Step 5: Calculate the total revenue: $20 x 500 = $10,000.
  • Total Revenue Calculation – Total revenue is calculated by multiplying the price per unit by the number of units sold.
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