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Five hundred raffle tickets were sold at a fundraiser for $5 each. Eight winning tickets paid as follows: one ticket at $750, two tickets at $250 each, and five tickets at $125 each. The revenue from ticket sales that was not used to pay off the prizes was profit. What percent of the revenue from ticket sales was profit?

 Jun 24, 2022
 #1
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500 * 5 =  $2500  = total money taken in = revenue

 

1(750) + 2(250) + 5(125)  = $1875   =  prize money paid out

 

Profit =  2500 - 1875  =  $625  

 

% of revenue that was profit =    625  /   2500  =    .25  =  25 %

 

 

cool cool cool

 Jun 24, 2022

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