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To raise money for malaria research the New York City Rotary Club is going to sell 200,000
raffle tickets. One ticket will have a 8000 dollar prize attached to it. Ten tickets will have a
300 dollar prize attached to it. Seventy-five tickets will have a 50 dollar prize. (As a wam up,
answer for yourselves: what is the total amount of all the prize money?) In addition to the
prize money, to make sure that the tickets are secure, by hiring a company which specializes in
producing anti-counterfeit raffle tickets, the cost of raffle tickets is given by C(20) = 4500+6x.
To cover both the prize money and the cost of producing the raffle tickets, as a warm-up,
what should be the price of each of the 200,000 raffle tickets in order to break even?

Sagot :

reinhard10158

Step-by-step explanation:

so, they want to sell 200,000 tickets (and we assume they can really sell all of these).

they have to pay the prize money afterwards :

1 × $8,000 = $8,000

10 × $300 = $3,000

75 × $50 = $3,750

--------------

$14,750

and they have to pay for the ticket production at the beginning.

this is not really well defined, but I assume the following :

C(20) = 4500 + 6x

x = units of 10,000 tickets (because of the functional argument of 20, and we have to deal with 200,000 tickets).

that means the cost for these 200,000 tickets is then

4500 + 6×20 = $4,620

$4,500 are fixed costs insurgent of the number of tickets (like for creating the design, configuring the printing machines for the design, ...).

and 6×20 = $120 are the cost of actuality printing the tickets ($6 per 10,000 ticket prints).

so, the total expenses are

$14,750 + $4,620 = $19,370

under the assumption they can sell all 200,000 tickets to just break even, the prize for each ticket must be

19,370 / 200,000 = $ 0.09685 ≈ $0.10

if my assumptions are wrong, please adapt the numbers in the calculations i showed you here.

for example, what if the x in the printing cost is per ticket and not per 10,000 tickets ?

then the printing costs would be

4500 + 6×200000 = $1,204,500

and the total expenses would be

$14,750 + $1,204,500 = $1,219,250

and the prize per ticket would have to be

1,219,250 / 200,000 = $ 6.09625 ≈ $6.10

francocanacari

The total amount of all the prize money is $14,750, and the price of each of the 200,000 raffle tickets in order to break even should be $0.08.

Amount calculation

Given that to raise money for malaria research the New York City Rotary Club is going to sell 200,000 raffle tickets, and one ticket will have an 8000 dollar prize attached to it, while ten tickets will have a 300 dollar prize attached to it, and seventy-five tickets will have a 50 dollar prize, to determine what is the total amount of all the prize money and what should be the price of each of the 200,000 raffle tickets in order to break even, the following calculation must be made:

  • 1 x 8000 + 10 x 300 + 75 x 50 = X
  • 8000 + 3000 + 3750 = X
  • 14750 = X
  • 14750 / 200000 = Z
  • 0.07375 = Z

Therefore, the total amount of all the prize money is $14,750, and the price of each of the 200,000 raffle tickets in order to break even should be $0.08.

Learn more about amount calculation in https://brainly.com/question/14695611

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