Rate of Profit given Profit Per component Calculator

✖Profit Per Component is the net profit the machine shop makes when it delivers one produced component.ⓘ Profit Per Component [P]			+10% -10%
✖Average Production Time is the time taken to produce a single component out of a lot of produced batches.ⓘ Average Production Time [t_p]			+10% -10%

✖Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.ⓘ Rate of Profit given Profit Per component [MPR]

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Rate of Profit given Profit Per component Solution

STEP 0: Pre-Calculation Summary

Formula Used

Maximum Profit Rate = Profit Per Component/Average Production Time
MPR = P/t_p
This formula uses 3 Variables

Variables Used

Maximum Profit Rate - Maximum Profit Rate is the efficiency rate of the product obtained in metal cutting.
Profit Per Component - Profit Per Component is the net profit the machine shop makes when it delivers one produced component.
Average Production Time - (Measured in Second) - Average Production Time is the time taken to produce a single component out of a lot of produced batches.

STEP 1: Convert Input(s) to Base Unit

Profit Per Component: 5000 --> No Conversion Required
Average Production Time: 10.1 Minute --> 606 Second (Check conversion here)

STEP 2: Evaluate Formula

Substituting Input Values in Formula

MPR = P/t_p --> 5000/606

Evaluating ... ...

MPR = 8.25082508250825

STEP 3: Convert Result to Output's Unit

8.25082508250825 --> No Conversion Required

FINAL ANSWER

8.25082508250825 ≈ 8.250825 <-- Maximum Profit Rate

(Calculation completed in 00.004 seconds)

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Created by Kumar Siddhant

Indian Institute of Information Technology, Design and Manufacturing (IIITDM), Jabalpur

Kumar Siddhant has created this Calculator and 400+ more calculators!

Verified by Parul Keshav

National Institute of Technology (NIT), Srinagar

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< Maximum Efficiency Calculators

Rate of Profit

LaTeX Go Maximum Profit Rate = (Amount Received For Each Component-Production Cost of Each Component)/Average Production Time

Amount Received by Machine Shop given Profit per Component

LaTeX Go Amount Received For Each Component = Profit Per Component+Production Cost of Each Component

Cost of Production given Profit per Component

LaTeX Go Production Cost of Each Component = Amount Received For Each Component-Profit Per Component

Profit per component produced

LaTeX Go Profit Per Component = Amount Received For Each Component-Production Cost of Each Component

Rate of Profit given Profit Per component Formula

LaTeX Go

Maximum Profit Rate = Profit Per Component/Average Production Time
MPR = P/t_p

Maximum Rate of Profit

If in a Machining Operation, Minimum Production Cost Criteria is chosen, the production time will increase. Similarly, if Minimum Production Time Criteria is chosen, the production cost will increase. To compromise between these two, the Maximum Rate of Profit is considered.

How to Calculate Rate of Profit given Profit Per component?

Rate of Profit given Profit Per component calculator uses Maximum Profit Rate = Profit Per Component/Average Production Time to calculate the Maximum Profit Rate, The Rate of Profit given Profit Per component is defined as the profit of a machine shop makes on producing components per unit time. Maximum Profit Rate is denoted by MPR symbol.

How to calculate Rate of Profit given Profit Per component using this online calculator? To use this online calculator for Rate of Profit given Profit Per component, enter Profit Per Component (P) & Average Production Time (t_p) and hit the calculate button. Here is how the Rate of Profit given Profit Per component calculation can be explained with given input values -> 8.250825 = 5000/606.

FAQ

What is Rate of Profit given Profit Per component?

The Rate of Profit given Profit Per component is defined as the profit of a machine shop makes on producing components per unit time and is represented as MPR = P/t_p or Maximum Profit Rate = Profit Per Component/Average Production Time. Profit Per Component is the net profit the machine shop makes when it delivers one produced component & Average Production Time is the time taken to produce a single component out of a lot of produced batches.

How to calculate Rate of Profit given Profit Per component?

The Rate of Profit given Profit Per component is defined as the profit of a machine shop makes on producing components per unit time is calculated using Maximum Profit Rate = Profit Per Component/Average Production Time. To calculate Rate of Profit given Profit Per component, you need Profit Per Component (P) & Average Production Time (t_p). With our tool, you need to enter the respective value for Profit Per Component & Average Production Time and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

How many ways are there to calculate Maximum Profit Rate?

In this formula, Maximum Profit Rate uses Profit Per Component & Average Production Time. We can use 1 other way(s) to calculate the same, which is/are as follows -

Maximum Profit Rate = (Amount Received For Each Component-Production Cost of Each Component)/Average Production Time

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