Question

A Campus Republicans fundraiser offers raffle tickets for $14 each. The prize for the raffle is a $400 television set, which must be purchased with the proceeds from the ticket sales. Find a function that gives the profit/loss for the raffle as it varies with the number of tickets sold. How many tickets must be sold for the raffle sales to equal the cost of the prize

Answer 1

Answer:

##  Profit/Loss = $14x-400$

##  29 tickets

Step-by-step explanation:

Profit/Loss is Revenue - Cost

For the fundraisers:

Revenue comes from tickets sold at $14 each

x tickets sold, means the revenue is:

14x

Now, cost is what they are going to give out, that is $400 TV Set, so the cost is:

400

Hence, Profit/Loss would be:

Profit/Loss = $14x-400$

Raffle sales equaling the cost of prize is basically when we break-even, or when profit/loss is equal to 0. So we solve the equation:

Profit/Loss = 14x - 400

0 = 14x - 400

14x = 400

x = 28.57

We can't sell fractional tickets, so we have to sell 29 tickets in order to break even