SOLUTION: A booster club sells 1000 raffle tickets to raise $2,500 for new uniforms. First prize is $1,000, second is $300, and third is $200. How much should the group charge for each ticke

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: A booster club sells 1000 raffle tickets to raise $2,500 for new uniforms. First prize is $1,000, second is $300, and third is $200. How much should the group charge for each ticke      Log On


   

Question 1061224: A booster club sells 1000 raffle tickets to raise $2,500 for new uniforms. First prize is $1,000, second is $300, and third is $200. How much should the group charge for each ticket.
Answer by Cromlix(4381) About Me  (Show Source):
You can put this solution on YOUR website!
Hi there,
Prizes = $1000 + $300 + $200 = $1,500
Cost of new uniforms = $2,500
Total outlay = $2,500 + $1,500 = $4000
$4000 divided by 1000 tickets = $4
To break even,tickets must be sold at $4
Hope this helps :-)