Word problems involving money, Mathematics

Word Problems Involving Money:

The promoter of a track meet engages a 6,000 seat armory.  He needs to gross $15,000. The price of children's tickets is to be one-half the price of adults' tickets.  If there is one-third of the crowd is children, what should be the price of tickets, supposing capacity attendance?

Solution:

Step 1. Let x = Price of an Adult Ticket (in dollars)

Step 2. Then,

x/2 = Price of a child ticket (in dollars)

1/3 (6,000) = 2. 000 = Number of children's Tickets

6,000 - 2, 000 = 4, 000 = Number of Adults' Tickets

Step 3. Gross Income = (Number of Children's Tickets times their Unit Price) + (Number of Adults' Tickets times their Unit Price)

$ 15,000 = 2,000(x/2) + 4, 000(x)

Step 4. Solving for x:

15,000 = 2,000 (x/2) +4,000 (x)

15,000 1,000x 4,000x

15,000 5,000x

x          $3.00

Solving for the other unknown:

x/2 = Price of a Child's (in dollars)

x/2 = $3.00/2

x/2 = $1.50

Answers:       

Price of Adults' Tickets = $3.00

Price of Children's Tickets = $1.50

Step 5. The  price  of  children's  tickets  is  one-half  the  price  of  adults' tickets.

1/2 ($ 3. 00) = $1. 50

The gross is $15,000.

4,000($3.00) + 2,000($1.50) = $12,000 + $3,000 = $15,000

Therefore, the answers check.

Posted Date: 2/9/2013 4:48:22 AM | Location : United States







Related Discussions:- Word problems involving money, Assignment Help, Ask Question on Word problems involving money, Get Answer, Expert's Help, Word problems involving money Discussions

Write discussion on Word problems involving money
Your posts are moderated
Related Questions
Determine or find out if the following series is convergent or divergent. Solution In this example the function we'll use is, f (x) = 1 / (x ln x) This function is

Fundamental Theorem of Calculus, Part II Assume f ( x ) is a continuous function on [a,b] and also assume that F ( x ) is any anti- derivative for f ( x ) . Then,

0+50x1-60-60x0+10

if .77x + x = 8966.60, what is the value of x?

A 4-input Neuron has weights (1,-1,  0,  0.5.Calculate the network output when the following input vectors are applied. For calculation assume: a. f(net) = unipolar bina

Determine the derivative of the following function by using the definition of the derivative. f ( x ) = 2 x 2 -16x + 35 Solution Thus, all we actually have to do is to pl

if triangle abc is similar to def and ab/de=3/4 find the ratio af their perimeter and area

2.When investigating times required for drive-through service, the following results (in seconds) were obtained. Find the range, variance, and standard deviation for each of the tw

railway tunnel of radius 3.5 m and angle aob =90 find height of the tunnel

If the p th term of an AP is q and the q th term is p. P.T its n th term is (p+q-n). Ans:    APQ a p = q a q = p a n = ? a + (p-1) d = q a + (q-1) d = p