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What is the total profit or loss

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Problem - The winner of a known singing contest on television will perform at your student council's charity event for free. The venue will be at your school's gymnasium with 25,000 seating capacity. This event will be held on January 28 of the current year. The school is charging the council P30,000 for the facilities and P10 for each ticket sold. As the only member of the student council who knows costing, they asked you to determine how much will be charged to gain a profit of P8 for each ticket sold. You assume that 15,000 tickets will be sold.

a. What is the total cost incurred if 15,000 tickets are sold?

b. How much must be charged per ticket to earn its desired profit?

c. Suppose that on the morning of January 28, a major south west monsoon hits your area. Only 5,000 tickets were sold because most students plan to buy their tickets at the entrance. What is the total profit or loss?

d. Suppose instead that fair weather prevails and, by show time, 20,000 concert tickets were sold. What is the total profit or loss?

Reference no: EM132676342

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