An initial investment of ₹4,000 was required. There's a 30% chance of winning a cash prize of ₹25,000. If you win, you get the cash prize as well as your initial investment. If you lose, you'll get nothing.
What is the expected profit/loss on average from society's lottery?
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Step-by-step explanation:
Praveen Kumar of grade 4
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Answer:
(25000*0.3) -(0.7*4000) = 4700
Step-by-step explanation:
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