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Working out profits and loss from a tombola ticket sale

  1. Jan 5, 2016 #1
    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. jcsd
  3. Jan 5, 2016 #2

    billy_joule

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    You sure about that?
     
  4. Jan 6, 2016 #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

    3. The attempt at a solution
    That's a profit of £25 - £19.50 = £5.50
     
  5. Jan 6, 2016 #4

    SammyS

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    Yes, that looks good.

    Added in Edit:

    This may not be correct. See what "Halls" says in the next post.
     
    Last edited: Jan 6, 2016
  6. Jan 6, 2016 #5

    HallsofIvy

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    Does the ticket numbered "50" win both?
     
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