Question

The value of a building lot on Galiano Island is jointly proportional to its area and the quantity of water produced by a well on the property. A 500 ft by 100 ft lot has a well producing 5 gallons of water per minute, and is valued at $12,000. What is the value of a 300 ft by 300 ft lot if the well on the lot produces 6 gallons of water per minute?

Answer 1

Answer:

v = value of building lot (in dollars)

a = area of building lot (in square feet)

q = quantity of water produced by well (in gallons per minute)

k = proportionality constant

v = kaq

12,000 = k(50,000)(5)

12,000 = 250,000k

k = 12/250 = 6/125

v = (6/125)(90,000)(6) = 25,920

The value of this building lot is $25,920.