A Campus Republicans fundraiser offers raffle tickets for $10 each. The prize for the raffle is a $425 television set, which mu
st 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?The equation used to model this situation is ____, where p is the profit in dollars and t is the number of tickets sold.____ tickets must be sold for the raffle sales to equal the cost of the prize. (Round up to the nearest whole number as needed)
The profit equation would be: Profit = 10t - 425. To break even, 43 tickets must be sold, rounded up to the nearest whole number.
Step-by-step explanation:
Tickets = 10 * t, or $10 dollars per ticket
Prize = $425
Profit = (10 * t) - 425
Break-even is when the Function value would be Zero. This can be found by dividing the dollar amount by 10 to get 42.5 tickets or 43 tickets. After 43 tickets sold, the rest is profit.
