# Working out profits and loss from a tombola ticket sale

1. Jan 5, 2016

### Natasha1

1. The problem statement, all variables and given/known data
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?

2. Relevant 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

3. The attempt at a solution
That's a profit of £25 - (2x£10) = £5

Am I correct please?

2. Jan 5, 2016

### billy_joule

You sure about that?

3. Jan 6, 2016

### Natasha1

Ahh thanks for spotting that!

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

3. The attempt at a solution
That's a profit of £25 - £19.50 = £5.50

4. Jan 6, 2016

### SammyS

Staff Emeritus
Yes, that looks good.

This may not be correct. See what "Halls" says in the next post.

Last edited: Jan 6, 2016
5. Jan 6, 2016

### HallsofIvy

Staff Emeritus
Does the ticket numbered "50" win both?