In a lottery 1000 tickets are sold at $0.35 each. There are 3 cash prizes: $130, $90, and $30. Alice buys 7 tickets. What would have been a fair price for a ticket? How much extra did Alice pay?
Round your answers to 2 decimal places.
Fair price is $ .
Alice paid $ in excess of the fair price.
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so, the lottery made $350 from selling the tickets. But the total prize money they are giving away is $(130+90+30) = $250
So, they made $100 in profit.
So, the fair price would have been if they made no profit, that is, they sold 1000 tickets for $250.
which means, each ticket should have been a quarter. I'm sure you can work out how much extra alice paid after this.
Amistre need some help on a long definite integral problem
a long one? sounds laborious... sounds like the kinga integral that makes you wake up screamin' in the middle of the night drenched on a cold sweat.... ok :)