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DaniilM [7]
3 years ago
11

Ticket was sold with fixed price of $70. A few more tickets were sold to cover extra expenses, after selling 10 tickets there wa

s still a loss of $800.
Let P represent $ and ‘n’ tickets

Complete the equation for the relationship b/n net profit and number of tickets sold.
Mathematics
1 answer:
Evgen [1.6K]3 years ago
7 0

Answer:

P = 70n -1500

Step-by-step explanation:

Hi, the price of each ticket is $70. So, if after 10 tickets were sold  

($70 x 10 = $700) there was still a loss of $800, the expression of the initial loss is:

Loss = ($70 x 10) + 800 = 700 +800 = $1500

To obtain the equation for the profit, we have to multiply the price of each ticket by the quantity (n) and subtract to that result the initial loss (1500):

Mathematically speaking:

P = 70n -1500

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Step-by-step explanation:

First of all we would have to perform the following table:

                                             

Product   Ending Inventory(Q0)  Begining(P0)   Ending(P1)   P0×Q0   P1×Q0  

    A                    500                         0.15               0.21                75        105

    B                       50                         1.60               1.80                 80         90

    C                       100                        4.50             4.20                 450      420

    D                       40                          12.00          13.40                 480     536

                                                                                             Total  1085     1151

Therefore, using laspeyres index number, we calculate the following:

laspeyres index number=(∑P1×Q0/∑P0×Q0)×100

laspeyres index number=(1151/1085)×100

laspeyres index number=106.08

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