As a fund raiser, a community organization buys tickets to the theatre to resell 25% above cost. They buy 50 eight dollar tickets, 25 ten dollar tickets and 25 fifteen dollar tickets. If they sell all but three of the ten dollar tickets, how much money have they made?
Answers
Given : organization buys tickets to the theatre to resell 25% above cost.
They buy 50 eight dollar tickets, 25 ten dollar tickets and 25 fifteen dollar tickets.
they sell all but three of the ten dollar tickets,
To Find : how much money have they made
Solution:
Cost of eight dollar tickets, = 50 x 8 = 400 $
Cost of ten dollar tickets, = 25 x 10 = 250 $
Cost of fifteen dollar tickets, = 25 x 15 = 375 $
Total Cost Price = 400 + 250 + 375 = 1025 $
resell 25% above cost. all but three of the ten dollar tickets,
Selling price of eight dollar tickets, = 50 x 8 *1.25 = 500 $
Selling price of ten dollar tickets, = (25-3) x 10 *1.25 = 275 $
Selling price of fifteen dollar tickets, = 25 x 15 *1.25 = 468.75 $
=> Total Selling price = 1,243.75
money they have made = 1,243.75 - 1025 = 218.75 $
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