Question

A charity organization had to sell a few tickets to their fundraiser just to cover necessary production costs after selling 10 tickets, they were still a net loss of $800 (due to the product cost). They sold each ticket for $70 let y represent the net profit (in dollars) when they have sold x tickets

Answer 1

y = 70x - 1500

Explanation:

Price per ticket = 70

Using the relation :

y = mx + c

x = number of tickets sold

When x = 10 ; y = - 800

Hence,

-800 = 70(10) + c

-800 = 700 + c

-800 - 700 = c

Hence, c = - 1500

The equation for the net profit in dollars is :

y = 70x - 1500