Question

A venue plans to host trucking events regularly throughout the year. The expected revenue from each event is $100,000. The cost for hosting this type of event is $50,000 per event. If the venue wants to make a total profit margin of $2,350,000, how many events does the venue have to host throughout the year?

Answer 1

The venue has to host 47 events throughout the year

Explanation:

Profit:

Profit is revenue subtracted by costs.

Per event:

$100,000 revenue

$50,000 costs

$100,000 - $50,000 = $50,000 profit.

If the venue wants to make a total profit margin of $2,350,000, how many events does the venue have to host throughout the year?

1 event - $50,000 profit.

x events - $2,350,000 profit.

`50000x = 2350000`

`x = (2350000)/(50000)`

`x = 47`

The venue has to host 47 events throughout the year