Sophie is organising a raffle - OCR - GCSE Maths - Question 20 - 2019 - Paper 1
Question 20
Sophie is organising a raffle.
- Each raffle ticket costs 50p.
- She sells 400 tickets.
- The probability that a ticket, chosen at random, wins a prize is 0.1.
- Ea... show full transcript
Worked Solution & Example Answer:Sophie is organising a raffle - OCR - GCSE Maths - Question 20 - 2019 - Paper 1
Step 1
Calculate Total Revenue
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Answer
The total revenue from selling 400 tickets at 50p each can be calculated as follows:
Total Revenue=400×0.50=£200
Step 2
Calculate Expected Number of Winning Tickets
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Answer
The expected number of winning tickets can be calculated using the probability of winning (0.1) multiplied by the total number of tickets sold (400):
Expected Wins=400×0.1=40
Step 3
Calculate Total Prize Cost
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Answer
Each winning ticket receives a prize of £3. Therefore, the total prize cost can be calculated as:
Total Prize Cost=40×3=£120
Step 4
Calculate Profit
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Answer
The profit can be calculated as the total revenue minus the total prize cost:
Profit=Total Revenue−Total Prize Cost=200−120=£80
Since the expected profit is £80, which is less than £100, Sophie is wrong.
