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6 September, 09:08

In a lottery, 1000 tickets are sold at. 25 each. there are 3 cash prizes: 100, 50, and 30. alice buys 5 tickets. what would be a fair price for a ticket

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  1. 6 September, 09:27
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    Total revenue generated by 1000 tickets = 1000 * ($0.25) = $250

    Total amount paid in prices = 100 + 50 + 30 = $180

    Profit for 1000 tickets = 250 - 180 = $70

    Fair price per ticket = $70/1000 = $0.07

    Answer: $0.07
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