Question

A charity organization had a fundraiser where each ticket was sold for a fixed price of $70. They had to sell

a few tickets just to cover necessary production costs. After selling 10 tickets, they were still at a net loss

of $800 (due to the production costs).

Let P represent the net profit (in dollars) when they have sold n tickets

Complete the equation for the relationship between the net profit and number of tickets sold.

P=

Answer 1

Answer: 70x-1500

(For Kahn academy users)

Explanation:

Answer 2

P = 70n -1500

Explanation:

Since the revenue generated from selling 10 tickets was 700 dollars. Still the incurred a loss of 800 dollars due to production costs. Hence the overall production costs would come at a total of 700 + 800 = 1500 dollars. In order to make net profit, they would have to withdraw 1500 dollars from the amount gained by selling 'n' number of tickets;

hence

P = 70n - 1500