Question

A youth group is planning a fundraising night to help pay for a trip. The expenses for the night are shown. DJ and disco £340 Hall hire £50 Hog roast £770 Ticket production £40 They will sell 200 tickets. They need to make a profit of £2000. Calculate the minimum ticket price to achieve this profit.

Answer 1

£16/ticket

Explanation:

See the attached worksheet. The sum of the expenses for the event is £1,200. Add to that the profit target of £2000, for a total of £3200. To achies that amount, each ticket (200 tickets) must be sold for (£3200)/200 = £16/ticket.

Answer 2

£16

Explanation:

We know

The total expenses for the night are:

DJ and disco: £340

Hall hire: £50

Hog roast: £770

Ticket production: £40

Total expenses = £340 + £50 + £770 + £40 = £1200

Calculate the minimum ticket price to achieve this profit.

Let's denote the ticket price as "P". We have the equation:

200P - £1200 = £2000

200P = £3200

P = £16

So, the answer is £16