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A taximeter or fare meter is a mechanical or electronic device installed in taxicabs and auto rickshaws that calculates passenger fares based on a combination of distance travelled and waiting time. Its shortened form, "taxi", is also a metonym for the hired cars that use them.
Both types have the same fare structure. Taxicabs are operated by private individuals or companies and licensed by the New York City Taxi and Limousine Commission (TLC). It also oversees over 40,000 other for-hire vehicles, including "black cars", commuter vans, and ambulettes.
Taxi fares are set by the state and city where they are permitted to operate. The fare includes the 'drop', a set amount that is tallied for getting into the taxi plus the 'per kilometer' rate as has been set by the city. The taxi meters track time as well as distance in an average taxi fare.
A fare is the fee paid by a passenger for use of a public transport system: rail, bus, taxi, etc. In the case of air transport, the term airfare is often used. Fare structure is the system set up to determine how much is to be paid by various passengers using a transit vehicle at any given time. A linked trip is a trip from the origin to the ...
The farebox recovery ratio (also called fare recovery ratio, fare recovery rate or other terms) of a passenger transportation system is the fraction of operating expenses which are met by the fares paid by passengers. It is computed by dividing the system's total fare revenue by its total operating expenses. [1]
According to this calculation, one mile is equal to $0.01. Likewise, if you spend $2,000 in purchases every month, you earn 48,000 Venture miles or 30,000 VentureOne miles.
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