A rancher has 340 head of cattle. He was about to sell them all for $204,000 when 172 of them fell sick and died. Because of the sickness, his customers lost confidence in his cattle, forcing him to lower his price by $150 per head. How much money would the devastated farmer lose if he sold the remaining cattle at the lowered price compared to the amount he would have made by selling them at the original price?
How much would the rancher have sold his cattle for? ** The rancher would have sold his cattle for $204,000/340 = $<<204000/340=600>>600 per head.
How many cattle did the rancher have left? ** He was left with a remainder of 340 - 172 = <<340-172=168>>168 head of cattle.
What is the lowered price? ** The lowered price is $600 - $150 = $<<600-150=450>>450 per head.
How much money would the devastated farmer lose if he sold the remaining cattle at the lowered price compared to the amount he would have made by selling them at the original price? ** He would make $450 x 168 = $<<450*168=75600>>75,600 at the lowered price.
How much money would the ranceler have made by selling the remaining cattle at the original price? ** He could have made $600 x 168 = $<<600*168=100800>>100,800 at the original price.
How much money would the devastated farmer lose if he sold the remaining cattle at the lowered price compared to the amount he would have made by selling them at the original price? ** He would lose $100,800 - $75,600 = $<<100800-75600=25200>>25,200
#### 25200