Question

HELP PLS! At a raffle, 100 tickets are sold for 1 prize of $100 and 3 consolation prizes of $20. What prizes should the tickets be sold for if the goal is to make the raffle a fair game?

Answer 1

Explanation:

I assume "fair game" means that there is no profit and the expenses are equal to the income or sales.

we have clear expenses :

1× $100

3× $20

that is in total : $160

now we need to make sure that we generate exactly $160 by selling the tickets.

we have 100 tickets that should lead to $160.

how much should 1 ticket cost ?

well, 160/100 = $1.60