Let's call the store value as s and the wholesale price as w. A store prices tapes by raising the wholesale price 50%(0.5 in decimals) and adding 25 cents, writing this as an equation, we have
If we invert the equation we're going to find the the wholesale price as a function of the store price.
Now, to find the wholesale price if the sales price is $1.99, we just need to evaluate s = 1.99 on the function we created.
The wholesale price is $1.16.
Let's define the following variables first.
A = number of tickets sold for adults
C = number of tickets sold for children
From the question, we can say that or form the following equations:
1. A + C = 790 tickets
2. $7A + $4C = $4, 390
The first equation can also be written as A = 790 - C. We can use this equation and replace "A" in the second equation.
From that, we can solve "C" by solving the equation formed above.
Therefore, 380 tickets for children were sold.
Since there are 790 tickets in total that are sold and 380 tickets for children were sold, we can say that 410 tickets for adult was sold.