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 at a net loss of $800 (due to the production costs). They sold each ticket for
$70.
Let y represent the net profit in dollars) when they have sold a tickets.
Complete the equation for the relationship between the net profit and number of tickets sold.

Answer 1

The equation for the relationship between the net profit and number of tickets sold is y= 70(n) - 1500

Explanation:

Given:

Cost of each ticket =$70

Number of tickets sold = 10

Loss after selling 10 tickets =$800

Solution:

Let n be the number of tickets sold.

Now, after selling 10 tickets cost is,

70 x 10 = 700

After selling 10 tickets, there is a net loss of $800.

So, Total product cost would be

=>$700 + $ 800

=> $1500

Now the function y can be represented as

y = Revenue - cost

y= 70(n) - 1500