Login

Welcome, Guest. Please login or register.

November 08, 2025, 05:17:44 am

Author Topic: methods unit 2 question  (Read 1107 times)  Share 

0 Members and 1 Guest are viewing this topic.

Maz

  • West Australian
  • Forum Leader
  • ****
  • Posts: 614
  • Respect: +16
methods unit 2 question
« on: October 20, 2015, 11:57:00 pm »
0
the organisers of a raffle are trying to decide the price they should charge for tickets. From past experience they feel confident that they can sell 7500 tickets if they charge $1 per ticket. For  each 10 cent rise in the price they estimate that they will sell 250 tickets less.
they need to raise $5000 to cover the cost of prizes and printing
if they set the price per ticket at $(1+0.1x) i.e., $1 plus x lots of 10 cents, find
a) an expression in terms of x for the profit the raffle will raise?

I can do the rest but my expression isn't comeing out right...
thanks in advance
2016: Methods | Chem | Physics | Accounting | Literature

popsicles

  • Adventurer
  • *
  • Posts: 14
  • Respect: 0
  • School: Melbourne Grammar School
  • School Grad Year: 2016
Re: methods unit 2 question
« Reply #1 on: October 21, 2015, 07:10:25 am »
+1
Profit = (1+0.1X)(7500-250X)-5000
Number of people they can sell to on the left, and price of raffle on the left.
Also the minus is because profit = total revenue (left) minus costs (right).
« Last Edit: October 21, 2015, 07:12:19 am by popsicles »