Working out profits and loss from a tombola ticket sale

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If so, it looks like a profit of £25 - £19.50 + £1 - £0.50 = £5.00Correct, thank you for clarifying! It is important to note that the ticket numbered "50" would only win £1, not £1.50, since it is only counted once in the calculation for tickets ending in 0. So the final profit would be £5.
  • #1
Natasha1
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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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  • #2
Natasha1 said:
But we know there are:
20 tickets with '5's win 50p,
You sure about that?
 
  • #3
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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  • #4
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.
 
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  • #5
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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