Answer:
US$ 1,084.80 were raised from the raffle tickets and US$ 1,035 are the profits after paying the prizes.
Step-by-step explanation:
1. Let's review the data given to us for solving the question:
Number of raffle tickets sold = 1,356
Cost of each raffle ticket = US$ 4/5
Number of prizes = 6
Cost of each prize = US$ 8 3/10
2. How much money was raised from the raffle tickets?
For easier calculation, let's convert the fraction numbers to decimal numbers:
Cost of each raffle ticket = US$ 4/5 = US$ 0.80
Cost of each prize = US$ 8 3/10 = US$ 8 + 0.30 = US$ 8.30
Now, we use this formula to calculate how much money was raised and the profits:
Profits = (Number of tickets sold * Cost of each ticket) - (Number of prizes * Cost of each prize)
Replacing with the real values, we have:
Profits = 1,356 * 0.80 - 6 * 8.30
Profits = 1,084.80 - 49.80
Profits = 1,035
US$ 1,084.80 were raised from the raffle tickets and US$ 1,035 are the profits after paying the prizes.
