Question

A charity had a fundraiser where each ticket was sold for a fixed price. They had to sell a few tickets just to cover necessary production costs of $1200. After 200 tickets, they had a net profit of $12000.

Answer 1

Fixed price = p

(12000 - 1200) ÷ 200 = P
10800 ÷ 200 = P
54 = P

Answer 2

Fixed cost of each ticket is 54$

Explanation:

We are given that:

Production cost = 1200$

Net profit = 12000$

Total number of tickets sold = 200

Let x be the cost or the fixed price of the ticket.

We know, that,

Net profit = Total cost - Production cost

Thus, according to question,

`12000 = 200x - 1200\\200x = 12000 - 1200\\200x = 10800\\x = 54`

Thus, the fixed cost of each ticket is 54$.