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 (n)P, denote the net profit from the fundraiser P (measured in dollars) as a function of the number of tickets sold n. Write the function's formula.

Answer 1

P(n)=66n-1200
12000+1200=13200,
13200/200+66,
it asks net profit, so you need to minus $1200 to find it.

Answer 2

Answer: The function's formula would be

`P(n)=Revenue-Cost\\\\P(n)=70n-1500`

Explanation:

Since we have given that

Price of each ticket = $70

Number of tickets = 10

Total cost price of tickets would be

`70* 10\\\\=\$700`

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

So, Total product cost would be

`\$700+\$800\\\\=\$1500`

We need to write the function's formula for the number of tickets sold 'n'.

So, the function's formula would be

`P(n)=Revenue-Cost\\\\P(n)=70n-1500`