SOLUTION: An arena receives $1,000 per event for 16 concerts. If the administrative costs for this sponsorship total $12,000, what is the profit margin for the concert sponsorship?

Question 925107: An arena receives $1,000 per event for 16 concerts. If the administrative costs for this sponsorship total $12,000, what is the profit margin for the concert sponsorship?

Answer by TimothyLamb(4379) (Show Source): You can put this solution on YOUR website!
profit = 1000 * 16 - 12000 = 4000
profit margin = ( 4000 / (1000 * 16) ) * 100 = 25%
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