Working out profits and loss from a tombola ticket sale

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Homework Help Overview

The problem involves calculating profits and losses from the sale of tombola tickets, specifically focusing on the costs associated with winning tickets. The subject area includes basic arithmetic and profit-loss calculations.

Discussion Character

  • Exploratory, Assumption checking

Approaches and Questions Raised

  • Participants discuss the initial calculations of profit based on ticket sales and the costs of prizes. There are attempts to verify the number of winning tickets and their associated costs, with some questioning the accuracy of the initial assumptions regarding the number of tickets that win prizes.

Discussion Status

The discussion is ongoing, with participants providing feedback on each other's calculations. Some guidance has been offered regarding the number of winning tickets, and there is an acknowledgment of potential errors in the initial assumptions. Multiple interpretations of the winning criteria are being explored.

Contextual Notes

There is a specific focus on the implications of certain tickets winning multiple prizes, particularly the ticket numbered "50," which raises questions about the rules governing prize eligibility.

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Homework Statement


One hundred tombola tickets were sold, numbered 1-100, at 25p each.
Each ticket which included a '5' won a prize costing 50p. Each ticket ending with a '0' won a prize costing £1. If all 100 tickets were sold, how much profit was made?

Homework Equations


100 tickets costing 25p that's 100 x 25p = £25 profit
But we know there are:
20 tickets with '5's win 50p, so that's 20 x 50p = £10 loss
and 10 tickets with '0's win £1, so 10 x £1 = £10 loss

The Attempt at a Solution


That's a profit of £25 - (2x£10) = £5

Am I correct please?
 
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Natasha1 said:
But we know there are:
20 tickets with '5's win 50p,
You sure about that?
 
Ahh thanks for spotting that!

Is the answer...

100 tickets costing 25p that's 100 x 25p = £25 profit

But we know there are:
19 tickets with '5's win 50p, so that's 19 x 50p = £9.50 loss
and 10 tickets with '0's win £1, so 10 x £1 = £10 loss

The Attempt at a Solution


That's a profit of £25 - £19.50 = £5.50
 
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Natasha1 said:
Ahh thanks for spotting that!

Is the answer...

100 tickets costing 25p that's 100 x 25p = £25 profit

But we know there are:
19 tickets with '5's win 50p, so that's 19 x 50p = £9.50 loss
and 10 tickets with '0's win £1, so 10 x £1 = £10 loss

The Attempt at a Solution


That's a profit of £25 - £19.50 = £5.50
Yes, that looks good.

Added in Edit:

This may not be correct. See what "Halls" says in the next post.
 
Last edited:
Each ticket which included a '5' won a prize costing 50p. Each ticket ending with a '0' won a prize costing £1.
Does the ticket numbered "50" win both?
 
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