Question

A Las Vegas casino offers a $250 hotel voucher per winner of a new card game, and each player has a 20% chance of winning. If the casino wants to earn a profit of $1,000 for every 50 players, how much money should the casino charge each player?A. $20B. $50C. $70D. $125E. $250

Answer 1

Answer:

Option C. 70$

Step-by-step explanation:

This one is actually easy to solve.

We have 50 players, and each of these players have the same chance of winning the voucher of 250$.

If this is true then:

50 * 0.2 * 250 = 2500$

This is the cost of the casino for all the 50 players.

Now, if the casino wants the 1000$ earning profit, they need to reach to 3500$ for player. Therefore, the charge that the players would be charged by the casino is:

3500/50 = 70$

This is the charge for each player