A civic group sells 1000 raffle tickets to raise $2500 for its namesake charity. first prize is $1000

namesake-charity

#1

A civic group sells 1000 raffle tickets to raise $2500 for its namesake charity. first prize is $1000, second prize is $300, and third prize is $200. How much should the group charge for each ticket?

Answer:

In addition to the $2500, the prize money for the winners need to be raised also. So, in total $4000 (2500+1000+300+200) needs to be raised. To get $4000, divide this by 1000 so each ticket would have to cost $4